Rich cash in on Anglo interest rates

The taxpayer is subsidising wealthy individuals who are earning a fortune placing large deposits with nationalised Anglo Irish Bank at rates as high as 5 per cent.

2nd May, 2009

The taxpayer is subsidising wealthy individuals who are earning a fortune placing large deposits with nationalised Anglo Irish Bank at rates as high as 5 per cent.

The bank is paying depositors market-beating interest rates at a time when the European Central Bank has slashed wholesale rates as low as 1.25 per cent to encourage borrowing and investment.

Depositors have secured rates as high as 5 per cent from Anglo Irish Bank and some other Irish banks...

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