Banks could get foreign funding

The government has received approaches from a number of international investors which are prepared to invest funds into Irish banks as part of a recapitalisation process.

15th November, 2008

The government has received approaches from a number of international investors which are prepared to invest funds into Irish banks as part of a recapitalisation process.

Intense discussions are now under way between the Department of Finance, the Financial Regulator and the banks on the issue.

The approaches raise the possibility that the government could put funds into some of the banks in tandem with private investors.

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