Lenihan: Allowing bank to fail was not an option

FINANCE Minister Brian Lenihan said allowing Anglo Irish Bank to fail was not an option.

Lenihan: Allowing bank to fail was not an option

To do so would have sent the wrong signals to global markets and “it would clearly pose a systemic threat to the rest of the financial system” in Ireland.

Given the government guarantee, it would have “to stump up” the €64 billion the bank has on deposit.

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