Irish Question Costs as Bank Rescue Trumps Austerity: Video


Sept. 2 (Bloomberg) — Irish taxpayers are questioning the wisdom of bailing out the nation’s banks as costs keep mounting. Anglo Irish Bank Corp. said Aug. 31 it needs about 25 billion euros ($32.1 billion) in state funding, equivalent to about two-thirds of this year’s tax revenue. Standard & Poor’s, which last week cut the country’s credit rating to AA-, said the state may have to inject as much as 35 billion euros. Bloomberg’s Sara Eisen reports. (Source: Bloomberg)