The former chairman of Anglo Irish Bank says the bank and the Cowen Government should have realised the extent of the problems facing the lender before the Guarantee.
Alan Dukes' comments come after Central Bank Governor Patrick Honohan told the Banking Inquiry yesterday that Anglo should have been shut down - instead of covering it by the bank guarantee.
Mr Dukes says the Northern Rock crisis and the problems facing German banks at the time should have alerted policy makers to the scale of the issues facing Anglo.
He says a different course of action could have been taken.
