President signs bill nationalising Anglo Irish Bank

The legislation to nationalise Anglo Irish Bank has been signed into law by President Mary McAleese.

The bill to bring the bank into state ownership was passed in the Dáil and Seanad last night.

The Finance Minister Brian Lenihan has said there are no proposals before him to nationalise either of Ireland's two main banks - Allied Irish Bank and Bank of Ireland.

The banks’ share prices have taken a hammering on the stock exchange in recent days.

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