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State injects billions into banks

Updated / Monday, 22 Dec 2008 14:51

Billions for banks - But is it enough?

€5.5 billion of taxpayers' money is to be invested in three of the main banks. Listen to analysis and reaction:

Finance Minister Brian Lenihan says the move is aimed at securing the future of the Irish banking sector

Economics Editor George Lee says the recapitalisation is aimed at seeing the banks through a crisis

Senator Shane Ross says the move is a good deal for the banks and a bad one for taxpayers

Cliff Taylor, editor of the Sunday Business Post, says the future of Anglo Irish Bank is still in question

Larry Broderick of the Irish Bank Officials Association sees recapitalisation as only a start to major changes

Leo Varadkar, Fine Gael spokesman on Enterprise, Trade and Employment, welcomes the announcement but says the money is not enough

George Lee, Economics Editor, reports that there were strong gains for the banks on the stock exchange this morning

Read Finance Minister Brian Lenihan's statement on recapitalisation here.

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