Corrections & Clarifications

In an article headed 'Piling Anglo losses on to national debt risks bankrupting the State' by Professor Morgan Kelly in last …

In an article headed 'Piling Anglo losses on to national debt risks bankrupting the State' by Professor Morgan Kelly in last Tuesdays edition, it was stated that the Minister for Finance Brian Lenihan had failed to follow advice received from representatives of the Central Bank and the Department of Finance at a meeting on September 29th 2008 at which the Government decided to guarantee the deposits and certain identified liabilities of six named financial institutions.

It was also stated that a Bill to rescue only four institutions was before the Government on that occasion. In fact, the Bill was the same as that passed by the Oireachtas this week, being a Nationalisation Bill. The Irish Timesnotes the unequivocal statement by the Minister for Finance in the Dáil on Tuesday confirming the correct factual position and we are happy to set the record straight and withdraw any suggestion of corrupt motives on the part of the Minister.