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31/03/2011
Irish Bank 'Stress Tests' To Be Published
Trading in the Bank of Ireland and AIB has now been suspended for 24 hours.
The move comes ahead of the publication of crucial stress tests today by the government.
The full extent of financial trouble within the banks will be detailed late this afternoon.
The government will take this opportunity to convince the International community, particularly the eurozone, that it can solve the banking crisis. It is believed the Bank of Ireland would need around €5bn, and EBS around €1bn.
The future policy could result in two strong institutions, the AIB and Bank of Ireland - made up of parts of smaller banks.
After the stress test results have been published, the European Commission, and the ECB are expected to issue a formal response.
Anglo Irish Bank Chief Executive Mike Aynsley said the banking system developed 'black holes' which need to be funded. He added the country needed a healthy banking system to ensure a healthy economy.
(BMcN/GK)
The move comes ahead of the publication of crucial stress tests today by the government.
The full extent of financial trouble within the banks will be detailed late this afternoon.
The government will take this opportunity to convince the International community, particularly the eurozone, that it can solve the banking crisis. It is believed the Bank of Ireland would need around €5bn, and EBS around €1bn.
The future policy could result in two strong institutions, the AIB and Bank of Ireland - made up of parts of smaller banks.
After the stress test results have been published, the European Commission, and the ECB are expected to issue a formal response.
Anglo Irish Bank Chief Executive Mike Aynsley said the banking system developed 'black holes' which need to be funded. He added the country needed a healthy banking system to ensure a healthy economy.
(BMcN/GK)
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Northern Ireland WeatherToday:There will be a mixture of bright intervals and a few showers. Best of the sunny spells will be near the North Coast. Feeling on the cool side. Maximum temperature 10 °C.Tonight:Showers will gradually die out during the evening. A cold night with long clear spells leading to a touch of frost in places. Minimum temperature 0 °C.
