Libertas took money from investor who hit our banks
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Tuesday September 29 2009
LIBERTAS leader Declan Ganley has been forced to defend the funding of his party's No to Lisbon campaign after he admitted he had received money from a British hedge-fund boss who made millions from betting on Irish banks shares falling.
Ganley was forced to admit that his party had received funding from wealthy investor, Crispin Odey, after he clashed with Finance Minister Brian Lenihan over the source of Libertas funding.
Mr Ganley insisted that the British financier had not provided funds for the Lisbon Treaty referendum campaign. However, he admitted that his organisation did receive funds from Mr Odey for its European elections campaign in Britain.
CONFIDENCE
Mr Odey was one of the leading short sellers of Anglo Irish Bank, before the bank was plunged into crisis.
Mr Lenihan said it was curious a hedge-fund manager involved in short selling Irish bank shares would contribute to the No campaign group.
According to official records, the wealthy investor, Mr Odey, donated almost €3,500 to "Pro-Democracy Libertas.eu" earlier this year. The London-based hedge fund boss also donated nearly €15,000 worth of services to the organisation.
Mr Lenihan queried why a hedge-fund manager would be contributing to Libertas.
"I find it curious that a hedge-fund would have a direct interest in goings on in Ireland in the No sense because, if we can be sure about one thing it's this, it would break international confidence in Ireland.
"And that is very clear from what Dr Michael Somers has said, it's very clear from all of the testimony we have from people who actually invest and create real jobs here, sustainable jobs. That's what they are all saying."
Mr Lenihan said he did not think the hedge fund was a body that would "have Ireland's best interest at heart".
"I just find it disturbing that the only person that's publicly disposed as funding this campaign is a hedge fund," he said.
Mr Ganley said Mr Odey was "one of many contributors in a small way" to the Libertas European election campaign.
hnews@herald.ie
