Advertisement
YOU ARE HERE: LAT HomeCollections

Business Briefing / Global Economy

Ireland to invest in 2 largest banks

February 12, 2009|From Times Wire Reports

After weeks of intense negotiations, Ireland unveiled plans to invest $9 billion in its two largest banks, Allied Irish and the Bank of Ireland, in hopes of easing international fears that Ireland's financial system could be headed for collapse.

A deepening scandal unfolding around Ireland's No. 3 and 4 banks, Anglo Irish and Irish Life & Permanent, has fanned market skepticism about Ireland's ability to police its banks and manage its ballooning national debt.

Advertisement
Los Angeles Times Articles
|
|
|