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19/01/2009
Controversy Over Anglo-Irish Bill
The Government's plans to effectively nationalise the Anglo-Irish bank has led to major controversy over a retracted clause uncovered as the paper work is put together.
The Government has decided to remove a section of the new legislation, which would have restricted certain depositors from withdrawing their funds.
It was initially planed that customers with large debts to be bank would be restricted from reducing their deposits to less than €20milion.
However, the move has now been abandoned following further legal scrutiny.
Junior Finance Minister Martin Mansergh says the clause was inserted as a precaution, but the Government has now decided that it is unnecessary.
The legislation paving the way for the nationalisation of Anglo Irish is due to be rushed through the Dáil and Seanad this week, however, Fine Gael have requested more details of the deal before they pass the bill.
The opposition's Richard Bruton TD said Important issues still remain to be clarified by Fianna Fail.
"These are very important issues that need to be addressed and will help inform the Fine Gael contribution to the debate next week," Mr Bruton said.
(DW/BMcC)
The Government has decided to remove a section of the new legislation, which would have restricted certain depositors from withdrawing their funds.
It was initially planed that customers with large debts to be bank would be restricted from reducing their deposits to less than €20milion.
However, the move has now been abandoned following further legal scrutiny.
Junior Finance Minister Martin Mansergh says the clause was inserted as a precaution, but the Government has now decided that it is unnecessary.
The legislation paving the way for the nationalisation of Anglo Irish is due to be rushed through the Dáil and Seanad this week, however, Fine Gael have requested more details of the deal before they pass the bill.
The opposition's Richard Bruton TD said Important issues still remain to be clarified by Fianna Fail.
"These are very important issues that need to be addressed and will help inform the Fine Gael contribution to the debate next week," Mr Bruton said.
(DW/BMcC)
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