The Taoiseach has said that a capital injection of €4 billion into Anglo Irish Bank is necessary to minimise the taxpayer's potential exposure to the bank.
Brian Cowen said the winding up of the bank would leave the taxpayer open to a far greater liability.
In the Dáil today, the opposition leaders criticised the move, with the Fine Gael leader Enda Kenny saying the situation was rotten to the core, adding that not one job would be saved because of the move.
Labour leader Eamon Gilmore described Anglo Irish Bank as a 'financial cesspit' and wondered how much more money it would need.
The Taoiseach defended the decision, saying it was necessary to ensure the bank could make reforms, and added that nationalisation was a last resort.
Mr Cowen said the alternative - to wind the bank up - could have ended up costing the taxpayer up to €60 billion. The Taoiseach also told the Dáíl €31m from the bank had been lent to former directors. He said the bank would seek full repayment.
