An agreed plan relating to Anglo Irish Bank would be submitted to the European Commission by the end of next January, Taoiseach Brian Cowen told the Dáil today.
He said it was envisaged that the deposit book would transfer from the bank but remain within the State.
“Finding a safe location of those deposits within the State is obviously something that can be done quite quickly, by the end of January 2011,” he said. “All deposits held by Anglo Irish Bank are safe.’’
The Taoiseach said the winding down of the bank’s loan book will take several years.
He was replying to Fine Gael leader Enda Kenny, who said that the Government’s banking strategy had brought the State to the edge of bankruptcy.
Anglo Irish Bank alone had cost the taxpayer €35 billion, with a total recapitalisation of €60 billion, ignoring the cost of Nama, he said.
The estimated total cost was about €100 billion.
Everybody, said Mr Kenny, respected the integrity of Central Bank governor Patrick Honohan, who said earlier this week that the bank would be wound down in a matter of weeks.