Ireland will restructure its banking sector as part of a massive economic aid package from the EU and IMF.
Irish banks will shrink, merge or be sold off, Finance Minister Brian Lenihan said, according to The Associated Press.
The banks are saddled with past-due loans related to the country’s real estate bubble. The cost of supporting the banking sector forced the government to turn to…
Continue reading Ireland to Overhaul Banking Sector as Part of Rescue Package
Ireland to Overhaul Banking Sector as Part of Rescue Package originally appeared on DailyFinance on Mon, 22 Nov 2010 06:28:00.