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Colm McCarthy: Determined to effectively render EU's bank rescue fund redundant

Four years ago today, it emerged that nobody would lend to Anglo Irish Bank in the wholesale markets.

The bank faced imminent collapse. The Government announced that almost all the existing liabilities of the domestic Irish banks were to be guaranteed immediately by the Irish Exchequer, as well as future liabilities contracted over a two-year period to end-September 2010.

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