Davy scandal will not hurt Ireland's ability to borrow, Finance Minister says

Davy was fined €4.1m for its failure to supervise a group of 16 of its employees in their 2014 profiting from personal dealings in the sale of Anglo Irish bank bonds

The National Treasury Management Agency withdrew Davy's authority to act as a primary dealer in Irish Government bonds. Picture: Sasko Lazarov/RollingNews.ie

The decision to cut Davy as dealer in selling Irish Government bonds will have no impact on the State's ability to borrow, the Finance Minister has said.

Paschal Donohoe said the scandal surrounding the stockbroking firm "cuts to the very heart of the standards that we expect from those in a position of responsibility within financial services".