Well, at least some of the rumours doing the rounds today were true . Another European bank has received a government seal.
From Reuters:
* Irish fin ministry says to nationalise Anglo Irish Bank
* Irish fin ministry says Anglo Irish Bank is solvent
* Irish fin ministry says Anglo Irish Bank continues to trade normally
* Irish fin ministry says all Anglo Irish Bank employees remain employed
* Irish government says Anglo Irish Bank chairman will stay on as chairman
* Irish government says Anglo Irish Bank will be managed on an arm’s lengthbasis
* Irish government says new Anglo Irish Bank board to be appointed
* Irish government says customer deposits and savings at Anglo Irish Bankfurther safeguarded by this action
* Irish government says Anglo Irish Bank creditors can be assured Anglo will service its obligations
* Irish government says expects Anglo Irish Bank shares suspended from Irish and UK stockmarkets on January 16
* Irish government says legislation to be put to parliament on Tuesday re AngloIrish Bank plan
* Irish government says banking system remains well capitalised and liquid
* Irish government says remains fully committed to recapitalisation plan for aib and Bank of Ireland
Is anyone surprised?
Related links:
The great Irish bailout – FT Alphaville
Anglo Irish Piggy Bank – FT Alphaville