Irish Banks and banking crisis

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Anglo Irish Bank St Stephen's Green Dublin, Ireland. <br />
Anglo Irish Bank's sizable  property lending to builders and property developers caused it to be seriously affeced by the downturn in the Irish property market in 2008.<br />
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The Irish government announced it was injecting to inject EUR1.5bn of capital for a 75% stake in the bank in December 2008, effectively nationalising it. by 15 January 2009, the government said that recapitalization of the bank was no longer a viable option and and instead fully nationalised it.