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Ireland's gov't to nationalize Anglo-Irish

Ireland's gov't to nationalize Anglo-Irish

Ireland's government will take over Anglo-Irish bank, saying its earlier plan to inject money into the troubled lender was not enough to secure its future.
Ireland's Department of Finance says the bank's funding position had been weakened and that unacceptable practices _ including a loan controversy _ had caused serious damage to its reputation.
The government now says the earlier recapitalization plan was not enough and that it must "move to the final and decisive step of public ownership."


Updated : 2021-01-24 18:31 GMT+08:00