Deal confirmed on Anglo Irish debt

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.
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