Friday 28 July 2017

Emmet Oliver: Anglo is on life support, but stubbornly refuses to die

Emmet Oliver

The capacity of Anglo Irish Bank to break depressing records appears to be limitless. The bank has now produced the largest loss in a half-year in Irish business history.

It already held the record for the largest loss in an entire calendar year. It also happens to be the largest bank rescue in Europe, when you measure the funds involved (€25bn) against the size of the Irish economy.

The bank's reputation as Europe's most toxic bank is only likely to be cemented this year. Losses in the first half of €8.2bn are likely to be broadly replicated in the second six months, which could push the bank into record-setting territory.

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