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Ireland made inquiries about a bailout as early as 2008, Banking Inquiry hears

Ireland made "discreet" inquiries with the International Monetary Fund (IMF) about applying for a...
Newstalk
Newstalk

10.42 24 Jun 2015


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Ireland made inquiries about a...

Ireland made inquiries about a bailout as early as 2008, Banking Inquiry hears

Newstalk
Newstalk

10.42 24 Jun 2015


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Ireland made "discreet" inquiries with the International Monetary Fund (IMF) about applying for a bailout as early as September 2008 - over two years before a final programme.

Kevin Cardiff, a former senior civil servant, has told the Banking Inquiry he made subtle inquiries with the fund around the time of the banking guarantee.

He says then-Minister Brian Lenihan ruled out the prospect of seeking foreign assistance then.

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And he also rejected foreign aid in 2009, when the IMF again said it would be willing to lend to Ireland.

Earlier, the chief economist of the Department of Finance said he has seen economists being ordered to change their forecasts for political reasons.

John McCarthy said it is important that people making political decisions on the economy can hear views from all sides.

But he said in his time in the department, he has seen people being told to change their reports for political reasons.


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