Anglo Irish Bank staff annoyed by alleged 'circular' transaction, court hears

Staff in the Finance department of Anglo Irish Bank were “very annoyed” when they learned how Irish Life and Permanent (ILP) was treating an allegedly circular billion euro transaction, a trial has heard.

Four former senior bankers from the two banks are accused of conspiring to mislead investors by setting up a €7.2bn circular transaction scheme to bolster Anglo's balance sheet in 2008.