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Thu 03 Mar 2010Bank chief says State must invest €9bn to keep Anglo afloat
THE GOVERNMENT will have to invest up to €9 billion in additional capital to keep State-owned Anglo Irish Bank afloat and reinvent the bank as a business lender under its plans, according to the bank’s chief executive Mike Aynsley.
In his first interview since joining Anglo last year, Mr Aynsley told The Irish Timesthat the costs of either liquidating the bank immediately or running it down over time were at least twice as expensive.
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