Irish Nationwide and Anglo Irish Bank set to cost taxpayer €12 billion

The financial black holes in the balance sheets of Anglo Irish Bank and Irish Nationwide Building Society look set to cost the exchequer about €12 billion to remedy.

27th February, 2010

The financial black holes in the balance sheets of Anglo Irish Bank and Irish Nationwide Building Society look set to cost the exchequer about €12 billion to remedy.

As the EU approved the Nama scheme last week, details of the extent of losses facing these lenders have been emerging. Anglo is expected to announce financial results in the coming weeks which will include massive, multibillion-euro loan losses.

The losses are expected to result in the...

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