Financial Times FT.com

Anglo Irish failure threatened state

By John Murray Brown in Dublin

Published: January 16 2009 20:46 | Last updated: January 16 2009 20:46

Brian Lenihan, Ireland’s finance minister, has made clear Thursday’s decision to nationalise Anglo Irish Bank was taken to prevent collateral damage to Ireland’s credit rating.

“The taxpayer has to own this bank to protect the state. That’s the fundamental issue here. This isn’t an optional matter”, Mr Lenihan told Irish radio.

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