Anglo Irish chief wants bank scheme extended

ANGLO Irish Bank wants the Government’s bank guarantee scheme to be extended beyond its current deadline of December to allow for the full stabilisation of the economy.

Last month Central Bank Governor Patrick Honohan indicated that the scheme may overrun into next year, but would be wound down sooner rather than later.

Anglo’s chief executive Mike Aynsley made the call for the extension of the programme in an interview with RTÉ. He also touched upon the proposed effective takeover of iconic Dublin department store Arnotts by Anglo and Ulster Bank, which are owed a combined €260 million by the retailer.