Adam Bienkov on Twitter points to this blog post by political blogger Guido Fawkes in 2008:
Despite Gordon’s whining to the EU it is now the case that Irish banks now represent the safest place to deposit money in Europe, with a AAA guarantee from a country with the lowest national debt to GDP ratio of any AAA country.
Thanks to Gordon’s prolificacy Irish commercial banks are safer than even the Bank of England.
Curiously, Paul Staines has said nothing recently about the Irish financial crisis.
The Guardian reported just a few minutes ago:
Ireland nationalised its second-largest bank today and pumped billions of euros into the rest of its beleaguered financial sector, just a day after mass street protests in Dublin against public spending cuts to pay for the bank bailouts. Allied Irish became the fourth bank to be nationalised by the Fianna Fáil-led government while the publicly owned Anglo Irish Bank, the country’s largest, was told it needed at least another €7bn (£6bn) of taxpayer funds to stay afloat.
A Reuters report says Ireland nationalising the bank buys it some more time, but ‘the clock is ticking’.
This reminds us of the time radical libertarian MEP Dan Hannan confidently predicted the Icelandic economy was doing brilliantly thanks to deregulation.
They never learn from their mistakes hey?