Government 'making up banking policy as it goes along'

Opposition parties are today accusing the Government of 'making up banking policy as it goes along' after it emerged that the State is taking a 16% stake in Bank of Ireland next week.

It is in return for the €3.5bn capital injection the bank was given last year.

However, the Department of Finance has admitted that the €250m dividend the taxpayer was expected to receive cannot now be paid.

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