Stephen Collins: Ireland's bank guarantee worked

Main political parties have paid a high price for doing the right thing

Brian Cowen and Brian Lenihan: on the night of the bank guarantee the  options were grim. Photograph: Bryan O’Brien

Brian Cowen and Brian Lenihan: on the night of the bank guarantee the options were grim. Photograph: Bryan O’Brien

Amidst all of the media coverage of the 10th anniversary of the bank guarantee and the bailout that followed two years later, the most important point of all has barely been mentioned – the strategy worked.

Ten years on, this country has bounced back from the brink of disaster that could have ruined it for decades. We have the fastest-growing economy in the European Union, unemployment has dropped into low single figures, living standards are rising and the population is growing rapidly.

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