Bank Guarantee to be made Law
Our government stayed up way past beddy byes last night in an attempt to come up with a solution to out currant free falling economy. They've offered to cover the asses, sorry, assets of six of our major lending institutions and possibly one or two Uk owned Irish bacnks too. Other UK banks are pissed off, claiming anti- competitive actions. But oh well, in time of crisis each must look to their own.
You can read the article here.
Well, there's that I suppose. So why do I feel so twitchy about it all. Why do I get a feeling we, us, the tax paper, are going to get hit in the goolies to shore up this guarantee? How can the government afford to cover it should things get much worse? Are not the revenues and thus Irish coffers very much down this year? Is this a case of borrowing from Peter to pay Paul?
I'm nervous. How you doing?
Labels: a queasy feeling.