Final farewell to bank guarantee

The bank guarantees used by the government to shore up the banking system were the measures that were needed at the time, writes Alan Ahearne.

3rd March, 2013
Anglo Irish Bank: when the bank guarantee was implemented, the government was not aware of the scale of its losses. Photo: Photocall

Last week, the government announced that later this month, it would begin to wind down one of the bank guarantee schemes in operation in this state. The Eligible Liabilities Guarantee (ELG) scheme was introduced in December 2009 as a temporary measure in response to the financial crisis.

A second crisis-related guarantee scheme, the blanket guarantee introduced in September 2008, expired in September 2010. A third scheme, the Deposit Guarantee Scheme, guarantees deposits of up to €100,000...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 6 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 6 years ago