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Fri 07 Jul 2010Advisers told Lenihan bank guarantee could be 'mistake'
The Government was advised that a blanket bank guarantee could be a "mistake" shortly before it introduced the scheme in late September 2008, according to financial documents released by the Oireachtas Public Accounts Committee today.
Financial consultants Merrill Lynch told the Minister for Finance that such an extensive guarantee over liabilities at the State’s main banks could “hit the national rating” and allow poorer banks to continue in operation.
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