Gormley: guarantee decided before 30 Sep 2008...

found this on p.ie - it’s the relevant part of the interview

youtube.com/watch?v=vD2d3W0hdsg

Maybe he could go supergrass. Witness relocation.

I would imagine that Merkel and the Germans were also still mightily pissed off about Depfa.

Fixed that for you :slight_smile:

Understatement of the decade, dude. Incidentally, I heard that they paid bonuses to their staff this year.

politics.ie/economy/145113-l … s-mos.html

Perhaps the mods can change the title of this thread and remove ‘week’ to avoid any confusion? I initially thought Gormley had said it was decided upon the week before but he said the day before. :blush:
In any case, the story remains the same and it is clear that major lies have been told. I see it is now being discussed by Karl Whelan and Labour have issued a statement.

irisheconomy.ie/index.php/20 … -decision/
labour.ie/press/listing/12914741491263701.html

Will the mainstream media make a big deal of this?? Will anything happen as a result or are the Irish people now just immune to the lies and spin? Do they care anymore? I sure bloody do!!

I didn’t see this anywhere.
On VB show on 8 December, Eamonn Ó Cuív stated that if the banks had been let go to the wall in September 2008, the State would have been liable to cover €82bn of ordinary deposits in irish banks who had under €100k. This was a State guarantee at the time. He said he got the figures from the Dept. of Finance.

Does that figure seem right?

Yes.

There were 200+bn in deposits in the banks at the time of the guarantee.

edit: but the state would not have been liable for all of it. To say that would be to assume that there would be a rather large writedown on the assets of the bank (i.e. that the depositors would receive nothing from the liquidation of the bank). Bad and all as the Irish banks are, I don’t think they are that bad.