No institution is likely to reject offer

NO Irish bank is immune from the current financial turmoil and none is likely to turn their back on the Government-backed proposed €10 billion recapitalisation bailout, banking analysts believe.

Goodbody Stockbrokers banking analyst Eamonn Hughes notes that theGovernment believes “in current market conditions, even fundamentally sound banks may require additional capital to respond to widespread market perception higher capital ratios are appropriate for the sector internationally”.

Mr Hughes interpreted this comment to indicate the Government views that no bank is immune to current market developments, so presumably will be talking with all banks in the covered programme.