Ireland announces €10bn bank bailout

The government of Ireland pledged up to €10bn for recapitalising ailing banks in a bid to encourage lending and limit the damage on the real economy.

In a statement released over the weekend, the government said the investment "may take the form of preference shares and/or ordinary shares and the state may where appropriate participate on an underwriting basis." A key principle, the government said was "to secure the interests of the taxpayers through an appropriate return on, and appropriate

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