The future of Anglo Irish Bank Corp., nationalized last year as bad debts surged, must be resolved soon because of the impact it is having on investors, Irish Central Bank Governor Patrick Honohan said today.
“This is a matter which will need to be finally put to rest very soon,” Honohan said in a prepared notes for a speech in Tokyo today. “The uncertainty around it is having a disproportionate impact on international investors.”
Supporting Anglo Irish may result in a net cost of about 22 billion euros ($28 billion) to 25 billion euros to the Irish government, Honohan said earlier this week. Honohan said he expects the government’s preferred option for Anglo Irish to be resolved in weeks.