Saturday 17 February 2018

Charlie Weston: Courtroom drama shows that aftershocks of crisis still with us

SENIOR public servants are not known for working on weekends, never mind late on a Sunday night. But this was the situation when senior regulators of the Central Bank found themselves before an emergency sitting of the High Court – at a time when the rest of the country was settling down to watch 'Love/Hate'.

The reason for the court application in the dark of night was a risk that Newbridge Credit Union would have opened up on Monday morning to a queue of people trying to take their money out.

The fears of a run on the deposits at the largest community-based credit union in the State was prompted after news emerged that a plan to merge Newbridge with nearby Naas Credit Union had run aground.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss