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Tue 10 Oct 2008Lenihan moves to assure EU Irish guarantee is legal
IRISH GUARANTEE:MINISTER FOR Finance Brian Lenihan held talks with EU competition commissioner Neelie Kroes last night to try and assure her that the Irish State bank guarantee scheme is legal.
At a meeting of EU finance ministers in Luxembourg, Mr Lenihan told Ms Kroes he may extend the guarantee to foreign banks with a significant retail presence in the Republic. However, he insisted the Government's guarantee could not be extended to "post box banks" which merely set up an office in Dublin and had no real banking operations there.
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