Seanad debates
Tuesday, 20 January 2009
Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages
10:00 am
Ivana Bacik (Independent)
I wish to follow on from the Minister of State's comment that there was no run on the bank. However, in answer to the question as to why the bank should be nationalised, he stated: "Market confidence in the bank was further eroded and this was reflected in a limited weakening of Anglo Irish Bank's funding base in recent weeks and the increased risk of knock-on effects on its credit ratings." My understanding of that comment is that there was a run on the bank.
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