Coalition rift as Boyle raps Anglo

CRACKS appeared in the coalition’s approach to the crisis-hit, nationalised bank Anglo Irish last night as Green Party chairman Dan Boyle signalled a fast-track wind-down is needed.

He told the MacGill Summer School the bank was a “notorious failure” and questioned the wisdom of pumping more into an institution which had already consumed more than €22 billion in public funds.

“We may be coming close to a time when the alternative of phasing out the bank over a shorter time period will become the more cost-effective option.

“Anglo Irish is now a notoriously failed bank. The policy priority has to be about cutting loses and not about rescuing the bank in whatever form,” he said, as he warned that those responsible for the “catastrophic” losses at Irish Nationwide would have to face the courts.

Finance Minister Brian Lenihan’s spokesperson denied a rift with the Greens over Anglo, saying talks were continuing with the EU over the best way to handle it.


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