Anglo losses

Take a look at the last paragraph from the front page story of the Irish Independent today:

One of the biggest problems is that Anglo’s staff are mainly skilled in property lending, but the EU does not want the bank to build up a major exposure to that sector again.

Well clearly the staff were not “skilled in property lending”?

But read the headline and note the date: July 12, 2010. “Economic crisis: Final bill for Anglo may be €33.5bn”

This figure is likely far more. As Peter Matthews said on June 16:(start at 9.00)

That €22bn loss is actually €32bn, and perhaps if we add the Central Bank loan we might get closer to €43.5bn. But I ain’t no expert.

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