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Thursday, 21 March 2013

Patrick O'Malley, founder, President, Teller, Receptionist and Cleaner of O'Malley's Bank in McGillmara, Ireland, has demanded a financial bailout from the European Union.

Without an immediate injection of cash the bank will collapse and take the O'Malley family's finances with it, said the banker.

The bank has one branch, located in the O'Malley barn. Several family members along with assorted pets have accounts there. "Every one of them will withdraw their money if the EU does not bail us out," said O'Malley.

So far the European Central Bank has not commented on the request. But the prospect of another small bank going under at a time when the Bank of Cyprus is on the brink of collapse could force Europe's banking chiefs to rescue O'Malley.

"A couple of billion Euros should do it," said O'Malley. "But I'm willing to negotiate."

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