Very worrying stop press news re Anglo Irish

A question about : Very worrying stop press news re Anglo Irish

Sky news just this minute reported that the European Commission has started an investigation into the bank to see if EU rules have been breached.

What is most worrying (even for Gozomark) is that were the EU to rule against Ireland its current cast iron ( note I did not say gilt edged ! ) guarantee on deposits might also fall away. If this happened it is quite possible that the bank would go belly up and depositors would lose their savings.
A frightening prospect indeed.

Best answers:

• I'm not worried about anything - if Northern Rock was allowed to be nationalised, then why not Anglo Irish - what the EU might do is impose market share restrictions similar to those applied to NR.
• yes, the UK isn't in the Eurozone
• The whole problem with Anglo-Irish is they, like Icesave, have experienced a big run of depositors extracting all of their savings. A massive drop in share price then ensues. But why now?
• ...it has been nationalised...per channel 4 teletext yesterday
• People were uneasy, then some kind people - e.g., eeja and Fraudbuster - on MSE let us know about Sean Quinn
  https://forums.moneysavingexpert.com/...1365207&page=2
  https://forums.moneysavingexpert.com/...html?t=1267457
  which for me was enough to tip the scales when I was deciding whether or not to put my savings there. That and a little extra research about the size of Anglo Irish, etc. Thanks, MSE-ers.
• (Note: "AIB(UK)" is Allied Irish Bank - an entirely different company to Anglo-Irish Bank).
• The Dublin government on Thursday night nationalised Anglo Irish Bank, the Irish Republic’s third largest lender, which has seen the collapse of its share price accelerate in recent days amid fresh reports of large-scale deposit withdrawals.
  The move, announced by Brian Lenihan, finance minister, ends attempts to keep the bank in private ownership. It was prompted by fears that the bank could be declared insolvent, which would trigger a state’s guarantee and leave the government responsible for settling close to Ђ100bn of liabilities, including Ђ50bn of customer deposits and Ђ20bn of wholesale deposits.
• I've seen reference to the 100% guarantee from Martin and in the media, but there's no mention of it on the Anglo Irish website or the Irish regulators site that they link to. All they refer to is 100k euro.