Members of the opposition have attacked the passing of the Irish Bank Resolution Bill last night.

The emergency legislation to liquidate the former Anglo Irish Bank was passed through the Dail and Seanad in the early hours of this morning.

Michael Noonan says he was forced into liquidating the zombie bank in a dramatic late night Dáil sitting because he was not able to deny media reports that this was what he intended to do.

He says while there was no specific threat to €14 billion worth of assets he needed to act before the Courts opened this morning.

But opposition parties say the legislation was too rushed and unclear.

People Before Profit TD Richard Boyd-Barrett has branded the moves a 'charade'.