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News Link • Economy - International

Anglo Irish Bank Reports Massive $10.3 Billion First-Half Loss

This was expected to be big, but the number highlights the hit that the Irish public balance sheet is taking with its support for the banks... Anglo Irish Bank has just posted an 8.2 Billion EUR ($10.3 Billion) first-half loss. According to Dow Jones, the loss includes about $6.0 billion in impairment charges and $4.4 billion in losses resulting from the transfer of bad assets to NAMA, Ireland's bank cleanup unit. Ireland's ISEQ index is off about 0.2%.

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