Labour to oppose extension of bank guarantee

Labour to oppose extension of bank guarantee

The Labour Party is to oppose government plans to extend its guarantee of the banks.

The party's finance spokesperson Joan Burton said the guarantee was a blank cheque for the banks - and the taxpayer has still not been told how much its going to cost.

The bank guarantee was first agreed two years ago after a meeting between bank bosses and the Government in the early hours of the morning.

Labour believes Anglo Irish Bank should not have been covered by the guarantee.

More on this topic

John Moran: Ireland is an exposed economy and another recession is 'inevitable'John Moran: Ireland is an exposed economy and another recession is 'inevitable'

Honohan to face questions at banking inquiry about 2010 bailout interviewHonohan to face questions at banking inquiry about 2010 bailout interview

Report shows 22 men owed up to €25.5bn to Irish banksReport shows 22 men owed up to €25.5bn to Irish banks

Most of the damage done before bank guarantee, says Central Bank GovernorMost of the damage done before bank guarantee, says Central Bank Governor


More in this Section

Wild Lights at Dublin Zoo cancelled due to stormWild Lights at Dublin Zoo cancelled due to storm

In pictures: The first look at Storm Atiyah as it hits IrelandIn pictures: The first look at Storm Atiyah as it hits Ireland

Traffic chaos which blighted 'All Together Now' festival could have been avoided - GardaiTraffic chaos which blighted 'All Together Now' festival could have been avoided - Gardai

10% of GPs have signed up to provide abortion services, HSE confirm10% of GPs have signed up to provide abortion services, HSE confirm


Lifestyle

Overshadowed by its giant neighbours it may be, but the smallest of the main Blasket islands, Beginish, is no less impressive in its own right.The Islands of Ireland: The miracle of Beginish

‘The days of our years are threescore years and ten — Psalm 90How to tell an animal’s age in a heartbeat

We often hear how nature will do well, even come back from the brink of extinction, if given a chance and some human help.Birds of prey on the rise

In our country we still have places that bear no evidence of disturbance by man, that are in their pristine state and rich with all the elements that feed the spirit and deliver us into the world beyond the skin of the time and circumstances we live in.Unique ambience of Dursey Island under threat

More From The Irish Examiner