Business Anglo Tapes

Monday 22 September 2014

Anglo tapes revelations make front page news in Germany

Published 26/06/2013 | 11:25

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Today’s front-page of Bild

SOME of Germany’s biggest newspapers have turned their attention to Ireland in the wake of the Irish Independent’s ‘Inside Anglo’ revelations.

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The best-selling German tabloid ‘Bild’ carries the story on its front page under the headline ‘Irish broke bankers mock German customers — Deutschland Über alles’.

The story begins: “They mocked their customers even as they were doomed”.

It adds that former Anglo executives ‘made fun of German naivete’ as savers moved to invest on the back of the bank guarantee.

Meanwhile, the usually-sedate ‘Frankfurter Allgemeine Zeitung’ goes further in its ire, claiming that the former executives should be put in a ‘sack’ – along with shareholders and members of the last Irish government, and members of the regulatory authorities.

“Take a bag and put this in it: First, the management of the former Anglo Irish Bank, and those employees who appear in the newly published audiotapes and behave like arrogant brats,” it reads

“Second, money managers of all kinds such as shareholders, bondholders and depositors from home and abroad who have entrusted money to this so-called bank after the crisis broke.

“Third, officials in the then Dublin government, regulators and the central bank who have been watching the goings on for far too long - regardless of whether they did not see, or could not see, the debacle.

“Fourth, the authorities in European institutions, who watched passively as the Irish State allowed its banks to rise and then allowed the European Central Bank to act in a way that is more than just bordering on monetary financing.

“When the bag is filled with these people, take a stick and beat until the wailing is unbearable. Then take all the decision makers in Europe in hand and guarnatee the citizens that a debacle like Anglo Irish Bank will never allow be allowed to happen again.”

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