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Anglo bailout 'no more than £20.6bn'

By Daily Mail Reporter
Updated: 03:27 EDT, 1 September 2010

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Anglo-Irish Bank said yesterday the bill for its rescue should be no more than £20.6bn - but mounting losses have raised pressure on Ireland to shut down the nationalised lender.

Once celebrated as a shining symbol of Celtic Tiger economy, the cost of bailing out Anglo has left Ireland with the biggest budget deficit in the European Union last year.

Anglo-Irish chief executive Mike Aynsley insisted that the cost of rescuing the bank would be capped at the ¤25bn previously signalled by the government.

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