Irish Nationwide Exploits Irish Taxpayer To Entice British Clients

Irish Times
03.10.2008
DAVID LABANYI

[emphasis added]

Irish Nationwide has described an e-mail circulated by the son of Irish Nationwide boss Michael Fingleton seeking new deposits as “inappropriate and regrettable in the circumstances”.

The e-mail from Michael Fingleton jnr was sent to at least one leading global bank stating that as a result of the protection of the Government’s new bank guarantee plan,

Full text of email from Mr Fingleton jnr:

As you may be aware on Tuesday 30th September the Irish Government put in place a guarantee arrangement to safeguard all deposits (retail, commercial, institutional and Interbank), covered bonds, senior debt and subordinated debt (lower tier II) with Irish Banks.

As Irish Nationwide qualifies under this scheme we now represent the safest place to deposit money in Europe with a AAA guarantee from a country with the lowest national debt to GDP ratio of any AAA country.

Irish Nationwide are offering the following GBP£ products for savers:
Six month 6.75% fixed rate bond (Irish Government Guarantee for any amount)
One year 7.10% fixed rate bond (Irish Government Guarantee for any amount)

Money in these accounts are guaranteed regardless of the size of deposit and represent the best value in the UK market. I can provide application and opening forms by email if required.

Please be so kind as to pass on to friends, colleagues and clients as you see fit. Should you have any queries, please do not hesitate to contact me directly on ************ or  ***** in the office.

I look forward to hearing from you in due course.

Kind Regards,
Michael Fingleton (Jnr)
Irish Nationwide Building
Society
122 Wigmore Street
London W1U 3RX

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