EU meeting for Anglo over restructuring

The chief executive of State-owned Anglo Irish Bank, Mike Aynsley, will meet European Commission officials today to discuss the…

The chief executive of State-owned Anglo Irish Bank, Mike Aynsley, will meet European Commission officials today to discuss the bank’s restructuring plan.

On June 1st, it submitted a revised restructuring plan to the commission for approval. Anglo wants to split into a good bank and bad bank, arguing that this would be the cheapest option for the State. It expects to receive feedback on its plan in July.