Under public control the 6 largest banks in Ireland after the endurance test

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The Irish Government will probably take the full control of the country’s major six financial institutions following the publication of the results of strength tests incurred by the banks of this heavily indebted country. The test results are due to be announced tomorrow and amongst the banks that could fall under the control of the governor are Bank of Ireland, and Irish Life & Permanent.

It is worth stating that the governor already owns 36% of the Bank of Ireland’s shares while other major banks have received aids amounting to 46billion. According to Bloomberg analysts after the results the banks will require a further 27 billion in order to sustain their positions.