Sunday, April 10, 2011

Mystery shrouds Ganley's predatory bank proposal

Declan Ganley's much vaunted patriotism must be called into question in light of a report from Ireland's leading business magazine that he is attempting to set up a Swiss bank which will encourage a capital flight from our severely embattled nation.

The move comes despite Ireland's IMF and EU bailouts and the ordinary people - to whom he attempted to appeal - being rendered impoverished by the need to re-capitalize the Irish banks.
Ganley's a proposal will be viewed by the majority of Irish Nation as an Act of Treason and an example of sinister disaster capitalism at its most foul.

Whereas Declan Ganley spoiled his vote in the recent Irish general election and claims to be a patriot rumors now taken off-line appeared in Business and Finance magazine that he was starting a bank with fellow fundamentalists to protect the capitol of the Irish elites. Remember that Ganley claimed to be against elites in his Lisbon Treaty campaigns.
A cached version of the original story appears here

Of course such disaster capitalism is part of Ganley's SOP see a story re Ganley's Albanian exploits

It is noteworthy that Ganley's partner on his first Lisbon campaign, Ulick McEvaddy came out to declare that the Anglo Irish Bank's "Golden Circle" backers were National heroes...only months before Anglo Irish Bank and poor government decisions bankrupted the country.

Business and Finance

Ganley behind new bank

05 April 2011 15:10
The entrepreneur Declan Ganley is in the process of setting up a Swiss-based bank, which will be aimed at Irish people looking to move their deposits out of Ireland and into European financial institutions.
The bank, which will be called St Columbanus AG, has been registered in Switzerland. According to documents seen by Business & Finance, board members include David McWilliams and Constantin Gurdgiev.
Ganley is travelling this week and is unavailable for comment.
A source close to the situation says that the project is still in development and no contracts have been signed.
According to a press release on the website: “St. Columbanus AG focuses attention on the need for safety…The main purpose of the firm is to provide a conservative safe haven for European depositors in the midst of the ongoing financial crisis.
“Declan Ganley, chairman and co-founder of St. Columbanus AG, said the company is focused on the safety of client assets, which is especially important in the current European context of economic and political uncertainty and low commercial growth.
“Until the economic crisis is resolved, which require several years, we are advising our clients to be prudent, secure their assets, place their savings with sound institutions, and address the safety of their pensions by considering Switzerland as the best safe haven for declared assets in Europe.”
It is believed that St Columbanus will act as an affiliate bank, which means that it will place Irish deposits in secure Triple A rated European financial institutions and take a commission in return for its services.
Other directors involved with the bank according to the website include Kevin O’Connell, Andrew Jamieson, who is a former board member of Ganley’s telecoms company Rivada; Charles Guthrie (Baron Guthrie of Craigiebank); and Gregory Tutton, who is a Swiss-based private equity player.

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