ECB to insist new government pumps cash into the banks

The new government will be told by the European Central Bank (ECB) that it must proceed with the investment of an initial €7 billion in the banking sector.

26th February, 2011

The new government will be told by the European Central Bank (ECB) that it must proceed with the investment of an initial €7 billion in the banking sector.

Earlier this month, outgoing finance minister Brian Lenihan deferred the recapitalisation until after the election, but the ECB will insist that the extra funds be injected into AIB, Bank of Ireland and the EBS. It will also tell the government that it wants to see the sale...

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