Patrick Holohan, the governor of the Central Bank of Ireland has said he expects the name of Anglo Irish Bank to be taken down from over its door in the coming months as the bank begins to wind up.
The disgraced Anglo Irish will “disappear as a name” in the coming weeks he added, which raises immediate concerns about hundreds of jobs that could be lost.
After the governor made his comments, The Central Bank issued a statement to clarify the issue. The wind up of the bank would be done over "a multi-year period as in the current restructuring".
"These measures are designed to provide an orderly resolution for the future of Anglo in a manner that is consistent with EU competition law and agreed with the European Commission," the statement said.
Anglo Irish Bank has cost Irish taxpayers $45billion (€35billion) since details of its trading emerged.
During an interview with RTE yesterday, Prof Holohan said that the Government's current plan to transform Anglo into an asset recovery and funding bank would be shelved and a new plan will be submitted.
The chairman of Anglo Irish Bank, Alan Dukes said that the new entity created from the former bank would be re-branded, and that previous plans to split the bank have been abandoned.
The bank’s chief executive, Mike Aynsley responded to the governors comments in an email to staff in which he said that “no decision to close the bank had been made”.
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