Monday, March 29, 2010


Ireland poised for fresh bank bailout

DUBLIN (Reuters) - Shares in Bank of Ireland (Dublin: BIR.IR - news) and Allied Irish Banks (Dublin: AIB.IR - news) fell more than 10 percent Monday as the government prepared to take control a much bigger chunk of the financial sector than initially planned. The government is this week moving the first loans into a 54-billion euro (48.5 billion pounds) "bad bank" scheme and Tuesday it will announce how much capital the banks will need to make up for resulting write downs. Local media reports said the state could increase its stake in Allied Irish Banks to 70 percent

Posted by mark @ 01:02 PM (3284 views)
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2 thoughts on “And…

  • who stole my pension? says:

    I wonder how long it will be before the U.K. has to do the same?

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  • BBC business also now covering this story – interestingly Citywire sent out an alert this morning titled “Gibbs piles 52.5% of Financial Opportunities fund into cash” – Jupiter’s star manager has put more than half of his £1.2 billion Jupiter Financial Opportunities fund into cash.

    Full article

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