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.

More on this topic

Eurozone recession fears on the rise

More in this Section

Minister rules out suspending NAMA work pending report into sale of NI loans

Study looking at gender diversity in surgery “an important message for the HSE"

Government deferred Local Property Tax review for political reasons, says FF

Garda worry over rising speeding and drink driving


Lifestyle

Review: Theatre, Ulster American

Review: Beyoncé, Homecoming

Wish List: Mellow yellow in the bedroom and beyond

10 ways to help protect your child’s online reputation

More From The Irish Examiner