18/09/2007

Reassurance For Irish Northern Rock Customers

British Chancellor Alistair Darling's guarantee that the Bank of England would underwrite all existing deposits at Northern Rock also extends to Irish customers of the beleaguered bank, Tanaiste and Minister for Finance Brian Cowen has confirmed.

Speaking on RTE Radio, Mr Cowen, said that a lot of assurance and reassurance had been given by Mr Darling's statement.

However, there were reportedly still queues of anxious customers outside the bank's branch in Dublin's Harcourt Street on Tuesday morning.

Northern Rock has also taken out newspaper adverts in an attempt to reassure customers.

Around £2 billion has been withdrawn from Northern Rock branches across the UK since last Thursday, when the firm applied for emergency funding from the Bank of England.

(KMcA)


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