Tapes may hinder bid for better borrowing terms

The contemptuous attitude of Anglo Irish Bank management towards Ireland’s financial partners abroad could threaten the country’s efforts to secure more favourable borrowing terms, Tánaiste Eamon Gilmore has warned.

He was speaking after further taped recordings of phonecalls within the bank in 2008 reveal its then CEO, David Drumm, encouraged breaching the conditions of the bank guarantee that saved Anglo, laughed at the financial regulator’s warnings against such behaviour, and made disrespectful remarks about German and British concerns.

Mr Gilmore said he was shocked and angry at what he had heard on the tapes.