I have just listened To Ciaran Lynch the Labour TD who is also Chair of the Oireachtas Finance committee being interviewed on the Pat Kenny radio show.
The conversation started with Kenny wanting to know how during Irelands Presidency of the E.U. that we acceded to the principal of making deductions to depositors in Cyprus and the possible impact of contagion as a result of this.
Deputy Lynch put forward his views that application of a levy on depositors was appropriate, the more the depositor had the greater he argued the ' levy ' should be. Pat Kenny drilled him hard that this was effectively theft and Deputy Lynch dodged many times but failed to discuss the principals involved however Kenny did want to talk about the principals involved and the fact that this Govt has applied a levy on pensions already which was effectively a theft and theft was his word not mine and not denied or challenged by Deputy Lynch.
Whilst the conversation started out about Cyprus it evolved quickly into what this T.D's view was about making depositors pay up by imposition of a levy. The conversation was removed from talk about Cyprus at that point. Remember this guy is a member of Government, his view which is reasonable I think to say the Labour party view was crystal clear and frightening to me as a depositor that has spread my life savings across the Banks and thereby thinking I could rely on the €100k blanket guarantee.
This is at odds with what was declared by Deputy Coveney in the Dail yesterday.
I have held my deposits in Ireland when many suggested moving these overseas. I have seen what I thought was a lot of scare mongering on AAM about this topic. After hearing this interview I am now scared and need to review, I am now gambling and I am no gambler. Deputy Coveney says it will never happen, Deputy Lynch who is Chair of the Finance Committee agrees with it as a strategy.........did anybody else catch it or could it be listened to again on a Playback...
The conversation started with Kenny wanting to know how during Irelands Presidency of the E.U. that we acceded to the principal of making deductions to depositors in Cyprus and the possible impact of contagion as a result of this.
Deputy Lynch put forward his views that application of a levy on depositors was appropriate, the more the depositor had the greater he argued the ' levy ' should be. Pat Kenny drilled him hard that this was effectively theft and Deputy Lynch dodged many times but failed to discuss the principals involved however Kenny did want to talk about the principals involved and the fact that this Govt has applied a levy on pensions already which was effectively a theft and theft was his word not mine and not denied or challenged by Deputy Lynch.
Whilst the conversation started out about Cyprus it evolved quickly into what this T.D's view was about making depositors pay up by imposition of a levy. The conversation was removed from talk about Cyprus at that point. Remember this guy is a member of Government, his view which is reasonable I think to say the Labour party view was crystal clear and frightening to me as a depositor that has spread my life savings across the Banks and thereby thinking I could rely on the €100k blanket guarantee.
This is at odds with what was declared by Deputy Coveney in the Dail yesterday.
I have held my deposits in Ireland when many suggested moving these overseas. I have seen what I thought was a lot of scare mongering on AAM about this topic. After hearing this interview I am now scared and need to review, I am now gambling and I am no gambler. Deputy Coveney says it will never happen, Deputy Lynch who is Chair of the Finance Committee agrees with it as a strategy.........did anybody else catch it or could it be listened to again on a Playback...