AIB had ‘no role in drafting guarantee’

The former chairman of AIB has claimed the bank had no role in drafting the bank guarantee and that no bank could have stopped the bubble.

AIB chiefs submitted their thoughts to the government on the night of the guarantee in 2008 on a scrap of paper, which cannot now be found.

Former chairman Dermot Gleeson said the first time he and his officials heard that six institutions were to be guaranteed was from the media the next morning.