Today, the European Commission (EC) approved the Irish government's €4 billion emergency recapitalization of Anglo Irish Bank.  Because the bank was nationalized by the Irish government this past January, this capital injection does not change the ownership situation of the bank.  According to the EC, "The proposed measure is required as a matter of urgency to preserve the financial stability of the bank which is of systemic importance" and "is appropriate to remedy Anglo's solvency problems and maintain confidence in the Irish financial markets."