Dáil expected to debate govt move to safeguard banks

The Dáil is expected to hold a debate this evening on the Government's move to safeguard Irish banks.

Finance Minister Brian Lenihan announced early this morning that the Government was guaranteeing all deposits in Irish-owned banks in a move to halt the decline in the Irish Stock Exchange.

The decision had an immediate effect, with the ISEQ index rising this morning after yesterday's significant falls.

The Opposition, however, has raised some concerns about the plan.

Labour Party finance spokesperson Joan Burton says the Dáil and the public need more information before judgement can be passed on the measure.

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