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Ireland to take control of banks

Discussion in 'Economics and Financials' started by joeydolfan, Feb 11, 2009.

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Feb 11, 2009 #1

joeydolfan Season Ticket Holder Club Member

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Apr 26, 2008

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The Irish government, meeting Wednesday night, approved a capital injection of €3.5 billion, or $4.5 billion, each for Allied Irish Banks and Bank of Ireland, a Finance Ministry official said. Bloomberg News reported later Wednesday night that the ministry confirmed the move in an e-mail message.

That made Ireland the first European Union country to take de facto control of all of its most important banks. Last month, the government stepped in to nationalize the teetering Anglo Irish Bank, which was No.3.
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http://www.iht.com/articles/2009/02/11/business/eire.php

We will as well before too long. Book it, the writing is on the wall.

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