Martin warns of credit union losses

Credit union savers could be burned to the tune of €17m over the liquidation of Anglo Irish Bank, Fianna Fáil leader Micheál Martin has warned.

Taoiseach Enda Kenny was accused of lacking a grip on the situation, as Mr Martin said people in credit unions would be the only depositors in Europe to lose out due to the financial crisis.

Mr Martin questioned why credit union assets were put in danger when the Taoiseach claimed that the emergency legislation deployed to liquidate the renamed Anglo, IBRC, had been in preparation since last November.