Anglo now just a bottomless pit
Published 15/08/2010 | 05:00
When we asked you a few weeks ago if the Anglo bailout should continue, a massive 24,000-plus of you said No.
Again in our Quantum Research poll this weekend, it is clear that you have no time for the most expensive waste of taxpayers' money in the history of the State. And yet the Government persists. The money that is being pumped into Anglo Irish Bank -- the latest estimate of €24.4bn is by no means a guaranteed final figure -- is astonishing and frightening.
It is the equivalent of taking 85 cent out of every euro of tax the Government will collect this year and it will push the budget shortfall above 20 per cent -- by far the largest deficit in the eurozone. This wasn't supposed to happen, of course. These figures were meant to be kept off the national balance sheet by some trick of the loop. But Eurostat saw us coming with that one and said forget it.