Anglo chief: Banking system 'still broken'

The Chief Executive of Anglo Irish Bank has questioned the value of burning senior bondholders at the bank.

Speaking after an address to the Leinster Society of Chartered Accountants, Anglo CEO Mike Aynsley said any such move would have to be consensual and agreed with stakeholders.

Finance Minister Michael Noonan has sought a meeting with the ECB President ECB Jean Claude Trichet with a view to avoid paying a €1bn debt to bank stakeholders.

In his speech this lunchtime Mr Aynsley said an unforgivable amount of money had been put into the bank, and he said the banking system in Ireland is still broken.