anglo irish bank

There are worries that a €11.5bn loan from the Irish central bank won’t be repaid, after it was discovered the loans were secured against Anglo’s loans to property developers. The Irish Independent reports:

Fresh doubts have emerged about the taxpayers’ final bill for bailing out Anglo Irish Bank after the Department of Finance admitted an €11.5bn loan given to the bank is secured on highly risky property loans. The Government has already earmarked €22bn for the nationalised bank, but if the €11.5bn loan remains unpaid it would bring the total bill to €33.5bn. Read more