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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/lloyds-in-warning-over-irish-crisis.jpg"><img class="alignnone size-full" title="Lloyds Banking Group has issued a warning over the impact that Ireland's debt crisis will have on its performance this year" src="http://londonglossy.com/wp-content/uploads/2010/12/min-lloyds-in-warning-over-irish-crisis.jpg" alt="Lloyds Banking Group has issued a warning over the impact that Ireland's debt crisis will have on its performance this year"/></a></p>
<p>One of Britain&#8217;s biggest banks has issued a warning over the impact that Ireland&#8217;s debt crisis will have on its performance this year.</p>
<p>Part-nationalised Lloyds Banking Group announced it will have to write off more of its £26.7 billion portfolio of loans in the country due to the deteriorating economic situation there.</p>
<p>It now expects bad debt losses of £4.3 billion this year, compared with the £1.6 billion reported in June.</p>
<p>Lloyds shares fell 5%, accelerating losses seen across the banking sector earlier in Friday&#8217;s session after Moody&#8217;s cut the country&#8217;s credit rating.</p>
<p>Fears over eurozone contagion were amplified by a report from the Bank of England, which warned Britain&#8217;s banks were not entirely safe from the continental debt crisis.</p>
<p>Lloyds said: &#8220;We are concerned that any economic recovery in Ireland may take longer to achieve, and that asset prices will remain depressed for longer, than previously anticipated.&#8221;</p>
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