Ireland announces stress test results
Following a stress test carried out by the Central Bank of Ireland and a group of independent experts, the amount of money needed to sustain Irish banks has been revealed as €24 billion ($34 billion).
Four banks were tested, Allied Irish Banks, Bank of Ireland, Educational Building Society (EBS) and the Irish Life & Permanent.
Allied Irish Banks was revealed to need the most money, some €13.3 billion.
Bank of Ireland requires €5.2 billion, EBS €1.5 billion, and Irish Life €4 billion.
Patrick
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