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11/02/2009
Recapitalisation Decision Expected Today
The Cabinet is meeting this morning to discuss the €7billion bail-out of the AIB and Bank of Ireland.
The pay-out using taxpayers money is expected to reinvigorate the Irish economy by providing the assets with which the banks can avoid collapse and begin issuing credit again.
However, in return for the investment, the banks are expected to cut the pay of top executives, agree to provide more credit to small businesses and introduce one year's moratorium for mortgage-holders.
The details of the recapitalisation plan are still being finalised and could be made public later today.
Reports today suggest the cash injection plan will be written in as part of the National Pensions Fund Amendment Bill, with €3.5 billion going to each of the two banks.
Last night, the Taoiseach held a 90-minute discussion on the plan with Fine Gael leader Enda Kenny and his deputy Richard Bruton.
(DW/BMcC)
The pay-out using taxpayers money is expected to reinvigorate the Irish economy by providing the assets with which the banks can avoid collapse and begin issuing credit again.
However, in return for the investment, the banks are expected to cut the pay of top executives, agree to provide more credit to small businesses and introduce one year's moratorium for mortgage-holders.
The details of the recapitalisation plan are still being finalised and could be made public later today.
Reports today suggest the cash injection plan will be written in as part of the National Pensions Fund Amendment Bill, with €3.5 billion going to each of the two banks.
Last night, the Taoiseach held a 90-minute discussion on the plan with Fine Gael leader Enda Kenny and his deputy Richard Bruton.
(DW/BMcC)
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31 August 2010
Anglo Irish Expected To Reveal Large Losses
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Anglo Irish Expected To Reveal Large Losses
The currently state-owned Anglo Irish Bank is expected to report large losses for the year to date in today's results. Analysts are speculating the bank's turnover for the first half of this year will be even worse than the banks previous six-month deficit of €4.1 billion.
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Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
