The Taoiseach Micheal Martin has said that the banks were not bailed out during the 2008 financial crisis but instead the State took equity.
Speaking in the Dail this afternoon the Taoiseach told opposition TD’s that the State didn’t bailout banks and shareholders despite being given €64 billion which was borrowed from the European Union and the International Monetary Fund (IMF).
Responding to questions from People Before Profit TD Richard Boyd Barrett, the Taoiseach said it’s not a popular thing to say but it is a fact that the State took equity rather than provide a bailout.
Martin’s comments come afte Barrett said that the Government’s offer of €3million to Debenhams workers was nothing but an insult.
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