Political opinion hardens on Anglo transactions

IN the lead-up to the emergency board meeting at Irish Life & Permanent last night, political opinion had hardened that Anglo Irish Bank engaged in fraud by seeking the assistance of IL&P to boost its deposits.

Speaking in the Dáil, Environment Minister and Green Party leader John Gormley predicted that there would be resignations at both banks because of the controversial transaction.

Fine Gael leader Enda Kenny said the two banks had colluded to “deceive shareholders”, while his Labour counterpart Eamon Gilmore labelled the transaction as “fraudulent”.