McCreevy warns economy damaged after AIB fraud

The Minister for Finance has said that the fraud against AIB has damaged the bank and the Irish economy.

However, he stressed that there is no danger to the overall stability of the bank.

Minister McCreevy said AIB is one of the major players in the Irish system and has a very large stock capitalisation on the Irish stock exchange.

Therefore, he added, a fraud such as this is bad for the economy as a whole, but the bank's strength remains intact and its stability is not in danger.