Bank of Ireland chief: We didn't think we needed a guarantee

The chief executive of Bank of Ireland says the bank did not feel it needed the guarantee on the night of September 29, 2008.

Richie Boucher said that on the night the state guarantee, which has already cost taxpayers €40bn, was brought in – on September 29 2008 – the bank had enough protection to withstand the crisis that was engulfing financial institutions.