The night Ireland’s fate was sealed by bank guarantee
Indecision by banks left door open for vulture funds, says Holohan
“We were doomed when we got to this time ten years ago. There were huge losses coming, and they would be felt by Irish citizens.”
At a remove of ten years, Alan Ahearne is blunt about the guarantee. At the time the government decided to backstop €440 billion worth of guarantees, the economist had yet to take up his role as adviser to finance minister Brian Lenihan jr.
Nonetheless, he is clear that ...
