Burton: Anglo 'largest banking failure in Irish history'
The Labour party has said that Anglo Irish Bank has now taken a stranglehold on the economy.
Finance Spokeswoman Joan Burton was speaking as the bank announced a loss today of €8.2bn during the first 6 months of the year.
The losses include loan impairment charges of €4.8bn, while the remaining losses of €3.5bn were incurred as part of the transfer of assets to NAMA.
Today's interim results also show that the nationalised bank has so far received €22.8bn in state aid.
Ms Burton said enough is enough.
"The bank is now becoming systemically destructive to the Irish economy. Clearly there are more losses still to come," she said.
"It is the largest banking and economic failure in Irish history."
