The Banks Guarantee and the nationalisation of Anglo Irish Bank has made over to us an unknown amount of debt (many tens of billions at best).
Brian Lenihan was told by a number of economists that Anglo Irish Bank should be allowed to fail as it was a property developers investment tank with only a hundred or so main debtors.
Brian Lenihan said to the Dail that on the basis of his knowledge of the bank's dealings it was a systemic bank and couldn't be allowed to fail.
This report says that Anglo Irish Bank has not loaned a cent since September.
Anglo Irish -- the bank with no future that's too expensive to kill off - Irish, Business - Independent.ie
Several aspects of the bank's dealings are currently under investigation by the Gardai.