Ryan defends Anglo Irish Bank bail out

The Minister for Communications Eamon Ryan has today defended the Government's decision to bail out Anglo Irish Bank.

Following the bank's disastrous financial results for the first half of the year, the state is seeking approval from the EU to pump an extra €4bn into Anglo.

Opposition parties have hit out at the move, claiming taxpayers are taking the hit for mistakes made by the bank, the Regulator and the Government.

Minister Ryan insisted however that the right decision has been made in the interests of the economy.