This guarantee has so many different forms I'm actually getting confused.
This extention relates to the issue of banks issuing government guaranteed debt with a maturity of up to five years.
http://uk.reuters.com/article/idUKLDE64U1LS20100531The European Commission on Monday approved a one-month extension to Ireland's bank guarantee scheme, which Dublin may well look to extend further before its lenders again start issuing debt without state backing.
Ireland first issued a guarantee for some 400 billion euros of bank liabilities at the height of the credit crisis in September 2008, in what then was one of the most extensive schemes of its kind.
The guarantee, which was originally for two years, was amended last year to allow banks to issue guaranteed debt with maturities of up to five years, but still with a 2010 issue deadline and periodically reviewed by Brussels. [ID:nDUB003114]
The European Commission said on Monday it approved an extension for issuance until the end of June.
I think I have this right bank issues government guaranteed debt in 2010 and we cover it up to and including maturity in 5yrs time.