FG TD: Irish banks will require further recapitalisation

Fine Gael TD Peter Matthews estimates there is up to €30bn in losses still lurking in the balance sheets of the Irish banks.

And, he argues, with losses coming in well above what was forecast in the last round of Central Bank stress tests, Irish banks will require a further recapitalisation in the future.

So far the Government has pumped €64bn into bailing out the banks. Roughly €34bn of this amount is in the form of promissory notes relating to Irish Bank Resolution Corporation (IBRC), which is responsible for running down the operations of Anglo Irish Bank and Irish Nationwide.