Taoiseach monitored situation from Japan

TAOISEACH Brian Cowen said he had been monitoring the Anglo Irish bank situation very closely for the past few days in the lead up to full nationalisation.

Speaking in Tokyo, he said he was in close touch with Finance Minister Brian Lenihan since before Christmas and over the past few days in particular.

Mr Cowen said recent revelations about undisclosed loans to directors in the bank had further undermined confidence in the institution.