Call for Anglo winding-up is justified

WITH Anglo Irish Bank’s credibility shot to bits and serious question marks hanging over the conduct of the bank’s directors, calls for the bank to be wound up are both justified and understandable.

Richard Bruton, Fine Gale’s deputy leader and spokesman on finance, argues the Government ought not to sink good taxpayers’ money, needed elsewhere, into a bank that will be absorbed by one of the main banks or wound down eventually because it is no longer able to survive in the dramatically changed market conditions post the credit crunch.

It is a reasonable assumption that neither Bank of Ireland nor AIB want Anglo in its present state of meltdown and forcing them to take it on would only weaken them further.