Friday 2 December 2016

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

Emmet Oliver

Published 01/09/2010 | 05:00

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.

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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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