Dublin - Irish President Mary McAleese signed into law Thursday a bill that would guarantee all deposits and borrowings for the six Irish-owned banks for the next two years, a statement from the president's office said Thursday. Under the plans, the six banks - Allied Irish Bank, the Bank of Ireland, the Anglo Irish Bank, Irish Life & Permanent, the Irish Nationwide Building Society and the Educational Building Society - are to be provided a 400-billion-euro (560-billion-dollar) guarantee.
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Competition laws prevent Irish Government ending taxi chaos, but not so for fat cat bankers.
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Well now are you glad you voted "NO" to lisbon, if anything it proves we must retain sovereignty over our financial services, tax codes and our ability to Govern in all aspects of Irish Industry. It also blows a gaping hole in PD policy of letting markets dictate the pace.
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