Markets News Afternoon: Wednesday is first anniversary of Irish State banking guarantee; Secret €4bn IL&P loan to Anglo Irish Bank
Sep 29th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Markets news on stocks, currencies and oil: Wednesday is the first anniversary of the State guarantee of all the debts and deposits of Irish banks and building societies. Anglo Irish had already received several billion euros worth of short-term secret loans during September 2008 from Irish Life & Permanent and within hours of the agreement on the State guarantee, IL&P gave a loan of €4 billion to Anglo - - which helped the latter to massage its accounting figures, on the last day of its financial year.