Anglo Irish Bank has announced a €12.7bn (£11.4bn) loss in the 15 months to December 31 last year, the largest in Irish corporate history.
Some legislators have called for the bank to be wound up, but Irish finance minister Brian Lenihan said that cost the state an immediate loss of €30bn while also stumping up €70bn to cover the bank's liabilities. Anglo intends to place €36bn in dud loans - the largest amount for any Irish bank - in the National Asset Management Agency (NAMA), the "bad bank" set up to deal with the crisis. Initially, Anglo will place €10bn in NAMA at a discount of about 50%. Total government direct capital injections into Anglo now stand at €12.3bn, although it may still need €10bn more, Lenihan w...
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