1-Oct-2010 12:42 PM

Bank bailouts send Irish deficit soaring

Ireland's Government announced that financial institutions AIB, Anglo Irish Bank and Irish Nationwide will require more funding from the state, a move which will see Ireland’s deficit increase 32% of GDP this year (RTE Business, 30-Sep-2010). The Government added that it has accelerated transferring loans to the National Asset Management Agency in order to get final figures on the costs of repairing the country’s banking system.

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