Cowen: Winding up Anglo would cost €64bn

TAOISEACH Brian Cowen has said it is not clear what the final cost of nationalising Anglo Irish Bank will be.

But Mr Cowen said winding it up would still be a more expensive exercise – as the state would have to repay €64 billion to people with deposits in the bank.

“The alternative to the Government’s decision would have the taxpayers open to a far higher exposure,” he said.