Government to announce rescue funding for Anglo-Irish bank

The Government is expected to announce in the coming 48 hours that it is pumping billions of euros in to the troubled Anglo-Irish bank.

Fears are being raised for the future of the bank unless it is rescued by the State before the financial markets reopen on Monday morning.

The Irish Financial Services Regulatory Authority held a crisis meeting on the matter that ran late into last night.

Earlier this week Anglo's Chief Executive, David Drumm and the bank's chairman Seán Fitzpatrick both resigned over revelations that Mr Fitzpatrick transferred €87m in loans in and out of the bank to avoid publicly disclosing the loans.