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Mon 12 Dec 2008Government to underpin banks with €10bn plan
THE GOVERNMENT will this week seek to get agreement on a €10 billion recapitalisation of the banking system with the help of private investors.
Minister for Finance Brian Lenihan will meet in the coming days with the chiefs of Allied Irish Banks (AIB), Bank of Ireland, Irish Life Permanent (ILP) and Anglo Irish Bank to discuss specific proposals for an injection of new capital into the system via a new fund in which the Government will participate.
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