Tuesday, March 29, 2011

Irish Banks Heading for New Bailout

The latest round of bank stress tests in Ireland is expected to show another black hole of between €18bn and €23bn and lead to the fifth bailout in two and half years.

The tests, conducted by BlackRock, the world's largest asset manager, were commissioned by the Irish central bank and focus on four lenders – Allied Irish Banks, Bank of Ireland, Irish Life & Permanent and EBS. The results are due to be published on Thursday.'


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