Bank restructure plan ‘within days’

THE GOVERNMENT could announce its restructuring plan for the country’s major banks in the coming days — possibly before the end of the weekend.

The Department of Finance said yesterday that an outline of the necessary steps to rebalance Ireland’s damaged banking network could be issued within the coming two to three weeks, depending on the timeframe of the Government’s ongoing bailout talks with representatives of the International Monetary Fund (IMF) and the EU.

However, a spokesperson for EU Economic and Monetary Affairs Commissioner, Olli Rehn — who has voiced his support for the Government’s four-year economic recovery plan — said the Irish bailout talks should be concluded by the end of this month.