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Editorial: Public anger fuelled by Anglo losses

Public anger at the bailout of State-owned Anglo Irish Bank will be fuelled by the bank's losses for the first half of the year reported today.

They were already the highest in Irish corporate history when Anglo announced a loss of almost €13bn last March.

The public could be forgiven for thinking that the banks, and Anglo in particular, appear to be a bottomless pit for public money.

It has already received more than €14bn from the Government and the European Commission has approved a further €10bn.

It is difficult to comprehend the amounts involved, which have already led to political tensions and calls for a faster wind down of Anglo.

The Cabinet meets tomorrow: top of the agenda should be urgent action to limit the escalating cost to the taxpayer.