The only realistic manner in which the Government’s planned rainy day fund can be used is for a bank bailout, Sinn Féin has said. “I would not expect the rainy day fund to be required to bail out banks. According to Sinn Féin the only reasonable conclusion is that the fund will be used for bailing out the banks. “This is unacceptable and covers the rainy day fund in a total lack of transparency; €500 million is not a small sum. However, Fianna Fáil finance spokesman Michael McGrath said all the main international bodies are in favour of a rainy day fund.

Source: The Irish Times October 08, 2018 00:00 UTC