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US bank bailout cheaper than expected


US bank bailout cheaper than expected


The US government’s bailout of the financial system is expected to cost around 65 billion euros that is much lower than previously thought.

In April of last year budget analysts estimated the net cost of the bail out to US taxpayers would hit the 261 billion euro mark.

The US administration is now looking at ways to extricate itself from its 80 per cent stake in AIG.

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