Rescue plan does not save bank share prices
It may have slipped a little from public view, but the markets lack confidence in the €7 billion plan for AIB and Bank of Ireland, writes David Clerkin, Markets Correspondent.
Last week’s overwhelming focus on Anglo Irish Bank and its golden circle meant a significant development affecting the Irish banking industry went largely unnoticed: the markets gave a resounding vote of no confidence in the €7 billion recapitalisation of AIB and Bank of Ireland.
The share prices of both banks suffered as investors delivered a negative response to hopes that the recapitalisation would steady their ships and provide an adequate buffer against future...
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