FT.com / Europe - Dublin to launch fresh Anglo Irish bail-out
Looks like another €5bn will be needed for Anglo
Ireland will on Thursday unveil a fresh taxpayer-funded recapitalisation of Anglo Irish Bank, the institution at the centre of the country’s property meltdown, amid rising alarm in the markets over the country’s financial health.
Ireland’s cost of borrowing on Tuesday hit record levels with yields on 10-year government bonds jumping 25 basis points to 6.72 per cent.
The Irish Central Bank’s additional capital injection is expected to be about €5bn. That would bring the bail-out costs for Anglo Irish to €30bn, shy of the €35bn forecast by credit rating agency Standard & Poor’s.