Bank recapitalisation fund was hiked by €4bn to €5bn at last minute

The amount which the government had to commit to invest in the banks was substantially increased in frantic negotiations that took place in the 24 hours before the bank recapitalisation was announced at the end of March, The Sunday Business Post has

28th May, 2011

The amount which the government had to commit to invest in the banks was substantially increased in frantic negotiations that took place in the 24 hours before the bank recapitalisation was announced at the end of March, The Sunday Business Post has established.

The EU, IMF and ECB insisted the figure for bank recapitalisation be increased to €24 billion, believed to be €4 to €5 billion above what the government felt was necessary, on the basis...

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