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Editorial: Anglo will haunt this Government

THE Government has done an appalling job explaining to taxpayers why exactly we have to put an enormous sum of money into saving Anglo Irish Bank.

Now it's confirmed that the scandal-hit bank will never lend another cent so it's not ever going to be of any benefit to us. And we still don't know how long it will take to wind it down.

So we are left wondering exactly what the purpose of this money pit now is.

Finance Minister Brian Lenihan has outlined a course of action for Anglo, with confirmation that it will be split in two, one wing holding deposits, and the other managing non-NAMA loans which will be run down over time.

Few people understand why the taxpayer is stuck with a €25bn bill.

One thing is certain, this Government will ultimately find itself paying dearly for this debacle.


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