Anglo IN WORDS
Last Wednesday afternoon, the chief executive of Anglo Irish Bank, Mike Aynsley, its chief financial officer, Maarten van Eden, and its chairman, Alan Dukes, appeared before the Dail's Joint Committee on Finance and the Public Service to answer questions on the bank's operations since its nationalisation in January of last year. Over the course of a two-and-a-half hour presentation in committee room number 1, the three provided a chilling insight into the €22bn black hole the taxpayer will be forced to pay for.
Anglo Irish Bank Chief Financial Officer Maarten Van Eden on the bank's annual accounts for 2009:
"It makes for pretty horrendous reading . . . The main number that comes out of that is a €15bn impairment number on the loan book of about €72bn. And of that, just over €10bn of impairments relate to loans that are destined to go into Nama.