Deal confirmed on Anglo Irish debt

AOL Money Staff
Anglo Irish Bank
Anglo Irish Bank

The Irish Government has confirmed plans to liquidise the former Anglo Irish Bank in a deal with European chiefs to ease its 28 billion euro (£24 billion) toxic bank debt burden.

Finance Minister Michael Noonan introduced emergency legislation in Dublin just after midnight to cut the immediate cost of the nationalisation of the rogue lender - now known as the Irish Bank Resolution Corporation (IBRC) - following negotiations with the European Central Bank (ECB) in Frankfurt.