EU anger over Irish bailout solo run

The Government's decision to guarantee the debts and deposits of the country's six largest banks drew a thinly-veiled attack from the Brussels Commission today.

The bailout plan was hatched and announced without consultation with the EU's competition authorities who will have to approve the deal.

And today, as EU Competition Commissioner Neelie Kroes still awaited formal notification from Dublin, she pointedly praised British government cooperation with Brussels over the Bradford &Bingley bailout and made clear her displeasure that Ireland had set up bank rescue plans without consultation.

http://www.herald.ie/national-news/eu-anger-over-irish-bailout-solo-run-1487241.html

Britain angry as billions flood into Irish banks

Finance Minister, Brian Lenihan was coming under increasing pressure from Britain today as billions of pounds flowed into Irish banks because of the Government two-year guarantee on savings.

British Chancellor of the Exchequer, Alastair Darling intervened twice with the Irish Government on behalf of UK banks yesterday, amid fears that the Government's blanket guarantee was causing a flood of funds across the Irish Sea.

British Treasury sources, quoted by The Times of London, said Mr Lenihan was told "in no uncertain terms the scheme was a problem for the UK."

http://www.herald.ie/national-news/britain-bleats-to-lenihan-as-billions-flood-into-our-banks-1487378.html