Crisis another blow to sector’s reputation

Our actions send one clear message to customers, investors, credit rating agencies and the markets generally - that Ireland is a safe, secure place to do banking business.”

14th February, 2009

So said Minister for Finance Brian Lenihan in the Dáil just four weeks ago, as he introduced legislation to bring the disgraced Anglo Irish Bank under state control.

That claim was a distant memory last week, as details emerged about how Anglo artificially inflated its customer deposit base by more than €7 billion last year with the help of Irish Life &Permanent (IL&P).

Ireland’s reputation on the international investment stage...

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