Magillmagazine has today apologised in the High Court to the Tánaiste, Ms Harney, and agreed to pay an undisclosed sum of money to charity for an article it wrote in its May edition.
The article had said that the Flood Tribunal had asked Ms Harney to hand over her financial records.
After the magazine was published Ms Harney applied in court for an injunction to halt further distribution. The magazine said at that time that it intended to defend the action, and repeated the substance of its allegation.
The apology came after Ms Harney threatened a libel action.
The magazine said it accepted the article was "seriously defamatory" and that the "specific allegation that Ms Harney was requested by the [Flood] Tribunal to produce details of her finances, sources of income, or bank accounts is wholly untrue and without substance or foundation".
The apology by Magillalso said "the publication of the article during the election campaign is especially damaging to Ms Harney and the Progressive Democrats" and that "the repetition of the libel in court was offensive and likely to do further damage".
Speaking outside the court, the Tánaiste said that this had happened at a very sensitive time in the election campaign and that she was "very pleased and happy with today's outcome".
"Today's apology was very fulsome and the outcome very speedy," said Ms Harney.
"I was very determined to ensure that I vindicated my name, my reputation and my character as that is important to me."
Asked about why she thought Magillhad published the article in the first place, Ms Harney said: "I think it was done in time to cause maximum damage to me, as the apology accepted," she said.
Ms Harney also said that: "Many legal friends over the last week said to me I could retire if I waited and it would be the biggest defamation action ever, but this was never, as far as I was concerned, about money.
"It was always about my good name, my reputation and my character. I have been involved in politics for 25 years, that matters to me."
Therefore, Ms Harney said, when the opportunity to clear her name came so quickly she was happy to take it.
