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Ireland: Banks need (EURO)24B more to survive shocks

Ireland: Banks need (EURO)24B more to survive shocks

The Central Bank of Ireland says the nation's cash-strapped banks need another (EURO)24 billion ($34 billion) in coming months to ensure they won't collapse in the face of future crises.
Central Bank Governor Patrick Honohan is unveiling new stress tests on four Irish banks, a condition of Ireland's international bailout last November.
Honohan says all four will need bailout funds to boost their reserves and cover the cost of more loan write-offs.
The new figure would take the estimated total cost of Ireland's bank-bailout efforts since 2009 to (EURO)70 billion ($99 billion).


Updated : 2021-10-17 02:11 GMT+08:00