Monday 23 October 2017

The Bank Guarantee: A timeline of events

Sean Quinn
Sean Quinn

March 2007 House prices start to decline nationally

August 2007 Shares begin falling as credit crunch bites

September 14  2007 Run on Northern Rock

July 15, 2008 Seán Quinn sells 10 per cent of Anglo stake

September 7, 2008 Fannie Mae and Freddie Mac nationalised

September 15, 2008 Lehman Brothers collapses

September 29, 2008 Irish bank shares drop sharply

September 30, 2008 Government guarantee for banks

October 24, 2008 Iceland gets International Monetary Fund (IMF) bailout as its banks collapse

December 3, 2008 Anglo presents fictitious results

December 18, 2008 Seán FitzPatrick resigns from Anglo

December 19, 2008 David Drumm resigns from Anglo

December 21, 2008 Government to recapitalise banks with €7.5bn

January 16, 2009 Anglo nationalised

February 13, 2009 Three executives resign from Irish Life & Permanent

February 24, 2009 Fraud Squad raids Anglo

February 25, 2009 Brian Goggin gone, Bank of Ireland names new chief executive

April 7, 2009 Emergency budget announces new National Asset Management Agency (NAMA) to buy bank debts

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