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Imaginative Local Authorities could have used a combination of their own reserve and loans from the PWLB under the "power of well being" to lend at about 2.5% and still made a small profit. They might also have used a PWLB loan to guarantee a repayment for a venture capitalist, there were all sorts of possibilities in what was a very fast deteriorating position. As i said, solvent British businesses went bust, busted Irish banks were saved

[QUOTE="Warbler, post: 2469974, member: 65228"] Imaginative Local Authorities could have used a combination of their own reserve and loans from the PWLB under the "power of well being" to lend at about 2.5% and still made a small profit. They might also have used a PWLB loan to guarantee a repayment for a venture capitalist, there were all sorts of possibilities in what was a very fast deteriorating position. As i said, solvent British businesses went bust, busted Irish banks were saved [/QUOTE]

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