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Furious Germans call for Anglo bankers to be beaten with a stick

THE Germans are angry. Very angry in fact. Several media outlets in Germany are carrying scathing reports about the Anglo Irish Bank tapes.

The country's best-selling tabloid newspaper has a front page headline: "Irish broke bankers mock German customers – Deutschland Uber Alles".

The article says that Anglo "mock their customers even as they were doomed".

But it is the editorial in the normally conservative Frankfurter Allgemeine Zeitung which will raise most eyebrows and add to the concerns of Finance Minister Michael Noonan, who is now fighting a PR-disaster across Europe. In a hard-hitting piece it suggests that bankers, bondholders, politicians, regulators and even some depositors should be rounded up and beaten.

"Take a bag and put in it: first, the management of the former Anglo Irish Bank, and those employees who behave like arrogant brats in the newly published audiotapes," it says.

Next it says that shareholders, bondholders and depositors from home and abroad who trusted the "so-called bank" after the crisis broke should be put in the sack.

After that it's government officials, regulators and the Central Bank "regardless of whether they did not see or could not see the debacle".

Finally it calls for the authorities in the European institutions like the ECB to be stitched up.

"When the bag is filled with these people we suggest getting a long stick and beating it until the screams of pain are unbearable.

"Then take all the decision makers in Europe by the hand and assure citizens that they will never allow a debacle like that of Anglo Irish Bank again," it concludes.

Germany's Handelsblatt business daily headlined its report: "Billions 'pulled out of arse'."

"It remains to be seen if the top floor of Anglo consciously misled then Irish leaders," the paper says.

kdoyle@herald.ie


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