Government raises objections to new banking plans by EU

Ireland has lodged a formal objection to an EU banking plan, amid fears that it would damage the lending capacity of major Irish banks and drive up the cost of loans.

Ian Kehoe - avatar

Ian Kehoe

30th August, 2008

Ireland has lodged a formal objection to an EU banking plan, amid fears that it would damage the lending capacity of major Irish banks and drive up the cost of loans.

The government has asked the European Commission to recast or delay the plan, which would restrict investments by banks and other financial institutions in asset-backed bonds and other risk-sharing instruments.

Financial institutions and industry lobby groups have been conducting a campaign against the proposal,...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 6 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 6 years ago