Bank of Ireland takes €1.1m from airport’s deposits

February 4th, 2012

FAKE NEWS for the Zionist agenda

Irish Independent
February 03 2012

Two ministers were seeking clarification last night after Bank of Ireland raided €1.1m held on deposit by Galway Airport and offset it against the company’s loans.

It is understood that the money was part of a €2.1m payment by the government to the airport company in December to fund its operational expenditures and a redundancy programme.

Galway Chamber of Commerce and Industry, which is the major shareholder in the airport, said yesterday that the move had put the future of the airport in jeopardy and stressed that the company’s loans were completely compliant and up to date.

Chamber president Declan Dooley said he was outraged at the bank’s actions, but acknowledged that the bank had not acted outside the terms of its loan agreement.

“This is an unprecedented move,” Mr Dooley said. “This has put the airport in an incredibly precarious situation.”

The airport company had €1.6m on deposit last week, but the bank informed the airport chairman that €1.1m of this was being offset against its loans.