EC clears state takeover of Anglo amid fresh FitzPatrick disclosures

THE European Commission will not block the Irish Government’s decision to take control of Anglo Irish Bank.

The commission said yesterday the move could not be categorised as a form of state aid to the bank.

Last month the government seized control of the lender after it emerged that former chairman Sean FitzPatrick hid at least €87 million he had in loans from the auditors, most of the directors and the general body of shareholders.