Nothing to declare?

IN 1996, Bertie Ahern said in respect of Michael Lowry: “The making of a large personal loan on more favourable conditions than would be available from any lending institution would clearly represent a personal favour that ought to be declared.”

This week, Mr Ahern said that in 1993 he received a loan, repayable at a rate of 3% interest. At the time, interest rates were in excess of 10%, so clearly his loan was at a far more favourable rate than anything available at any financial institution. By Mr Ahern’s own definition, this constitutes a personal favour that ought to have been declared.

Barry Walsh