Stress tests: Irish banks may need €20bn capital
Speaking at the firm’s latest economic outlook, Mr Power said: “I think the banks will need more capital. The Government stance in relation to this would suggest that they will need more capital. They will need €20bn and it is going to have to come from the ESM [European Stability Mechanism].”
A date for the stress tests still has to be finalised but it is looking like September or October. A spokesperson for the Department of Finance said it would not be making any comment on this issue prior to the stress tests.