Government rejects FG’s banking crisis claims

KEY banking documents released to the public accounts committee continue to stoke animosity between the Government and opposition over the meaning of advice provided on whether the lenders should have been guaranteed in 2008.

Last night Finance Minister Brian Lenihan attempted to dismiss Fine Gael’s finance spokesman Michael Noonan’s assessment of the trail of events which led up to the banking collapse.

He said the Government had been planning in case a financial crisis struck. And it had taken on the advice given to it, which was to rescue the banks. “Contrary to what Deputy Noonan claims, the documents released indicate that the Government was aware of the turbulence in the international financial markets.