President signs Credit Institutions Bill

President McAleese has signed the Credit Institutions Bill this evening and it has accordingly become law.

It follows a meeting of the Council of State this afternoon to consider the constitutionality of the legislation which aims to radically restructure the banking system.

The legislation, which passed through the Dáil last week, gives the Minister for Finance the power to make sweeping changes to the banking sector.

Opposition parties, and the European Central Bank have raised concerns about the legislation.

Email Updates

Receive our lunchtime briefing straight to your inbox

Related Articles

More in this Section

Judge advises couple to 'sit back and think about your child', says they use boy as pawn

One missing and one rescued as boat sinks off Dublin coast

Woman who alleges rape by Tinder date tells trial she feared he would beat her up

Weather for the weekend


Today's Stories

‘This was the worst example of driving I have ever seen’

Security men burst in on couple in state of undress

Cyclist died after crashing into parked jeep

Simon Coveney stages comeback

Lifestyle

My life in colour - Anne Madden on artistic success and a life in France and Ireland

Ask Audrey - 'There is no such thing as a Kerry man with only small amounts of perspiration'

DNA testing to determine your family history can provide some surprising results

Stay protected this summer with the latest sunscreens

More From The Irish Examiner