Crisis deepens for Irish banking

Nationalising Anglo is not the end of the story for the government – huge challenges lie ahead, writes Cliff Taylor

17th January, 2009

Welcome to the next stage of the banking crisis. The government’s move to nationalise Anglo Irish Bank coincided with another round of international investor fears about banks worldwide.

Bank shares tumbled, the US government had to agree to put cash into Bank of America for the second time - due now to its takeover of Merrill Lynch - and Barclays shares were hammered in Britain due to fears that it would need to...

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