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Ireland to invest $13 billion in banking system recapitalisation

December 14, 2008 by · Leave a Comment
Filed under: Global News 

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More bailouts to come, it is the thing to do these days.  Hopefully the increasing of their public debt to put good money into bad companies will help.  At the end of the day we are only going to be left with the same banking system with government backing and large interest payments to work-off literally.

News: 

Ireland will support a recapitalisation of its financial institutions of up to 10 billion euros ($13.27 billion), the government said on Sunday.

Ireland was one of the first countries to respond to the credit crisis with a two-year guarantee for bank liabilities worth some 440 billion euros, but it has not bailed out or nationalised any banks, and they have not raised equity themselves.

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