On 30 September 2008 the Irish government announced it will guarantee all banks, their loans and deposits to the tune of €440 billion - three times the size of the country's economy.
It was two weeks into the global crisis caused by the collapse of US-based Lehman Brothers investment bank. Banks were struggling to get cash. Panic had spread throughout the financial markets.
Ireland's decision was heavily influenced by its eurozone peers, who were afraid that letting a bank fail in...
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