| Updated:
Anglo Irish Bank to be liquidated
The former Anglo Irish Bank is expected to be liquidated in order to reduce the Republic of Ireland’s debt burden. The move, subject to ECB backing, would mean that Ireland no longer has to make €3.1bn annual payments on a €28bn note used to bail out the bank in 2008. Instead the debt will be transferred to the Central Bank of Ireland, enabling the state to make more gradual repayments.