Welcome for bank move but criticism over delay in acting

THE nationalisation of Anglo Irish Bank has been broadly welcomed but this has not spared the Government a lashing for not acting sooner.

Last night Fine Gael finance spokesman Richard Bruton said there was no trust or confidence in Anglo and this course of action should have been taken last month.

“In December, Fine Gael said it was not appropriate for the Government to pour taxpayers’ money into a recapitalisation plan for Anglo Irish Bank, given the information that had emerged regarding Anglo’s lending practices,” he said.