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.
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...
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