Thursday 23 February 2017

Why was a blanket bank guarantee the preferred option?

Published 30/04/2015 | 02:30

It is understood Mr Cowen will give evidence in July, but a number of other contributors, including key officials at the Department of Finance, could also throw more light on the subject
It is understood Mr Cowen will give evidence in July, but a number of other contributors, including key officials at the Department of Finance, could also throw more light on the subject

One key question remains after the latest evidence at the Banking Inquiry - why was a blanket bank guarantee given on that fateful night?

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Not that we learned much new about the collapse of the banking sector and the subsequent €64bn bailout after hearing from ex-AIB chief executives Eugene Sheehy and Michael Buckley and outgoing boss David Duffy.

The best nuggets again focused on the night of the bank guarantee and how nearly everyone there, bar Government representatives, was frozen out of the final talks on that fateful night of September 29, 2008. One key question has emerged, though.

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