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Johnny Logan inspired Finance funding group


Johnny Logan

Johnny Logan

Johnny Logan

Eurovision winner Johnny Logan was the inspiration for a Department of Finance working group, the Banking Inquiry has been told.

Logan's song 'What's another Year' led to the group's name - 'The Johnny Logan Group' - as they tried to find ways of extending national funding by a further year during the banks bailout.

The revelation came from former Department of Finance secretary general Kevin Cardiff who said they discovered they could find ways to extend the funding of the State beyond the end of 2013.

The group discovered "a few months of extra funding was potentially available", he said.

Mr Cardiff was responding to a question from Sinn Féin's Pearse Doherty about the NTMA recommending on March 28, 2011, that senior bondholders of the six main banks be burned to save €16bn.

Irish Independent