Ireland plans €10bn investment in banks

Article reports that the Irish government is planning an investment of 'up to €10bn' in the country’s banks, in partnership with private investors. The planned recapitalisation, announced in a statement by the finance ministry on the 14 December 2008, is aimed at strengthening the balance sheets of the banks and restoring investor confidence in bank shares, which have fallen sharply in the last week.

Ireland: Department for Finance: Press Release, 14.12.08: Statement by the Government on the Recapitalisation of Credit Institutions http://www.finance.gov.ie/viewdoc.asp?DocID=5604

The Telegraph, 15.12.08: Government to underpin banks with €10bn plan http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3774060/Irish-bank-shares-jump-after-10bn-government-bail-out-for-lenders.html

BBC News, 14.12.08: Irish banks to be recapitalised http://news.bbc.co.uk/2/hi/business/7782860.stm

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