Thursday 8 December 2016

Things we could do with Anglo's €20bn bailout cash

Published 24/07/2010 | 05:00

While Anglo Irish Bank turned many executives, employees and shareholders into millionaires, the bank has made the rest of us considerably poorer.

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We got a firm indication of the minimum cost of bailing out Anglo last month when chief executive Mike Aynsley told the Dail that "the lion's share" of the €22bn or so poured into the bank will never be seen again.

"That money is gone . . . It will not be recoverable," he said in a rare moment of candour amid all the nonsense about the bank's glowing future once it gets a new name and European Commission approves its plans to create a good bank to help business.

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