Dublin nationalises third-largest lender

The Irish authorities on Thursday took control of Anglo Irish, the country's third-largest lender, on fears that negative market sentiment could spark a run on the bank.

"The funding position of the bank has weakened and unacceptable practices that took place within it have caused serious reputational damage to the bank at a time when overall market sentiment towards it was negative," the Irish finance ministry said. "Accordingly the government believes that the recapitalisation is not now th