Blogger: Bosco
Blog DOB: 27 Jan, 2007
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Location: Ireland
Bosco in the Matrix
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The British Banks have thrown the teddy out of the pram, due to the guarantee of €440bn that the Irish Government for all six Irish Banks for the next 2 years. Fees to be arranged and disclosed
Even Alistar Darling called our Finance Minister (Brian Lenihan) pleading with him not to do it, to which Lenihan, no doubt, reminded him of his superb handing of Northern Rock, and other market helping comments he has made over the last 6 months.
The British Bankers are angry because of the outflow of funds from British Banks to Irish Banks now that deposits are guaranteed by the Irish Government, bless them.
The Irish Govenment had a gun to its head Monday Night/Tuesday Morning and probably secured the financial system in Ireland by its quick action, which in turn ensures jobs. To have the British Bankers whinge is ironic, since they have been silent through out this crisis.
Maybe the Governments should look at the Irish Govenments move and see if they could replicate it, rather whinge that they did'nt think it up first.I think its quiet refreshing to see a government ACT LIKE A GOVERNMENT and show leadership
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Posted in: Government
Tags:Banking Crisis |British Banks |Darling