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FactCheck: Was Micheál Martin right to say that the banks were not bailed out in 2008?

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The Taoiseach has suggested that the bank guarantee was an investment.
By Stephen McDermott
Wednesday 16 Dec 2020, 6:56 PM
Dec 16th 2020, 6:56 PM
60,740 Views
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TODAY, TAOISEACH MICHEÁL Martin said that the money provided by the Government to Irish banks in September 2008 was not a bailout.
In a debate with Solidarity-People Before Profit TD Richard Boyd-Barrett focused on the current situation for Debenhams workers, the Fianna Fáil leader said that the Irish government received shares in return for providing the banks with capital, suggesting that covering the banks in this way was an investment instead.
Is he right?
The Claim

Ireland , Dublin-city , Irish , Richard-boyd-barrett , Victor-duggan , David-jacobsen , Karl-whelan , Jim-power , Shane-ross , International-monetary-fund , Irish-nationwide-building-society , Debenhams