€7bn Anglo transfer ‘was not approved’

THE extraordinary e7 billion injection into scandal-rocked Anglo Irish Bank by another bank was not approved by the Government, Brian Cowen insisted last night.

As the Taoiseach warned the Dáil that Ireland is fighting an intense battle to preserve its financial reputation, he attacked claims that the highly controversial transfer from Irish Life and Permanent in September had gone through with a ministerial “nod”.

Eamon Gilmore raised the accusation at leader’s questions following media reports the Department of Finance expressed no concerns when told about the transfer, which the Labour leader insisted amounted to “cooking the books”.