Anglo Irish ‘In Different Basket’ to Other Banks, Minister Says

Anglo Irish Bank Corp. and Irish Nationwide Building Society, which took a 34.7 billion-euro ($49.7 billion) bailout, “are in a different basket” to Ireland’s other lenders, said Social Protection Minister Joan Burton.

“I find it difficult” that speculative investors who bought bonds in the two lenders “at 40, 60 and 70 cents in the euro” should ultimately receive 100 percent of par value, Burton said in an interview with Dublin-based broadcaster RTE Radio today.

She was responding to questions on Finance Minister Michael Noonan’s comments on June 15 that senior, unguaranteed and unsecured lenders should share in the losses of the two lenders.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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