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Brian Lenihan said the bank guarantee scheme was “a necessary first step” and “the cheapest bailout in the world so far” compared with bank rescues where “billions and billions of taxpayers’ money are being poured into financial institutions”. “It allows us to move on and examine other questions which may have to be addressed to […]

Septic Tiger

‘The Government has decided either through the National Pensions Reserve Fund or otherwise and subject to terms and conditions, to support, alongside existing [bank] shareholders and private investors, a recapitalisation programme for credit institutions in Ireland of up to €10 billion.’ ‘The State’s investment may take the form of preference shares and/or ordinary shares and […]