Dáil continues emergency debate on IBRC wind-up Bill

The Government has confirmed plans to liquidate the former Anglo Irish Bank in a deal with European chiefs to ease its €28bn toxic bank debt burden.

Finance Minister Michael Noonan introduced emergency legislation just after midnight to cut the immediate cost of the nationalisation of the rogue lender - now known as the Irish Bank Resolution Corporation (IBRC) - following negotiations with the European Central Bank (ECB) in Frankfurt.