The Labour Party has said that the Government's "gamble" on Anglo Irish Bank did not pay off.
The party's finance spokesperson was reacting to this morning's announcement on the final cost of bailing out the bank.
Speaking this morning, Joan Burton described today as Ireland's 'Black Thursday'.
She accused the Government of mishandling the entire Anglo situation.
"A lot of people in Ireland have said that the Government were in denial about the level of difficulties in Anglo, for a lot of different reasons," Deputy Burton said.
"I think in Irish history this is going to go down as our 'Black Thursday'," she added.
"The landscape has changed."
As for the junior coalition partner the Greens, party chairman Senator Dan Boyle tweeted this morning to say the horrendous figures tests their willingness to be a responsible party in government.
Party colleague and Communications Minister Eamon Ryan admits that today's developments will test the Government.
"This would test anyone," Minister Ryan said. "This is going to test the country.
"We have a terrible legacy of a property bubble and a failed banking system. We have to get over that.
"We have to resolve it and that's what we have done over the past two years."