Ex-Bank of Ireland boss gives account of guarantee

Anglo Irish Bank asked Bank of Ireland to take it over while the Central Bank also asked BoI to consider buying Irish Life and Permanent in the hours before the September 2008 bank guarantee.

Former Bank of Ireland group chief executive Brian Goggin revealed the options were put forward, and flatly rejected, as he outlined what happened in the “catastrophic” hours that became “the worst day of my life”.

Speaking at the Oireachtas banking inquiry, Mr Goggin said Anglo officials requested an “emergency” meeting with Bank of Ireland at 2.30pm that day at which they asked to be purchased by BoI as they had a “€1.5-2bn liability maturing the next day” which could not be paid back.