Bankers' union gives cautious welcome to recapitalisation

The Government’s announcement of a €10bn plan to invest in the recapitalisation of Irish banks has been cautiously welcomed by the Irish Bank Officials Association (IBOA) today.

IBOA general secretary, Larry Broderick, said that the Union had been calling on the minister for some time to give such a commitment in order to bring greater certainty to an increasingly volatile and irrational market in bank shares.