Anglo chief: Bank system repair critical

IRISH banks should be run by new people, and not those in charge during the banking crisis, in order to rebuild public confidence, Anglo Irish Bank chief executive Mike Aynsley has said.

Anglo is in the midst of merging with Irish Nationwide Building Society, to form the Irish Bank Resolution Corporation — a joint wind-down company. Anglo will be wound-down within the next decade.

Addressing yesterday’s Leinster Society of Chartered Accountants lunch in Dublin, Mr Aynsley said the Irish banking system is still broken and its repair is “absolutely critical” to a return to national economic prosperity.