Dukes: €25bn cost of Anglo depends on stable property prices

The Chairman of the IBRC, Alan Dukes, has said the final bill for winding down Anglo will be around €25bn.

That is less than the €29-€34bn estimate made in 2010.

Mr Dukes has been answering questions before the Oireachtas Finance Committee this morning.

He said if the property market does not deteriorate any further the bank could be returning some €4bn to the taxpayer.

Mr Dukes said the final bill for Anglo should be less than originally expected.

He said: "We remain reasonably hopeful that the cost of the operation will be closer to €25bn rather than the range of €29-€34bn estomated in September of 2010.

"This of course highly contingent on what happens to property markets here and in the United Kingdom."