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Wed 09 Sep 2010Bank 'effectively being closed' under split plan
INTERVIEW:ANGLO IRISH Bank chief executive Mike Aynsley has said the bank is effectively being shut down under management’s proposal to split the nationalised lender into a good bank and bad bank.
The bank had found that the lowest cost to the State was the splitting of the bank with the winding down of at least 80 per cent of the loans and the creation of a viable bank from the remaining good loans, he said.
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