View more on these topics

Irish Govt set to nationalise Bank of Ireland

The Irish Government is preparing to take a majority stake in the Bank of Ireland.

It means Ireland is left with no big, independent lender.

The increased Government stake is part of the talks surrounding the bailout package from the European union and the International Monetary Fund, according to the Financial Times. The package, which amounts to between £65bn and £75bn, is an attempt to rescue the country’s struggling banks and economy.

Meanwhile, Standard & Poor’s has cut Ireland’s long and short-term sovereign ratings due to concerns over government borrowing. 

The Irish Government is also today expected to release an austerity plan, which is required as part of the conditions of the bailout. The four-year plan is looking to make around £13bn of cuts.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm