Bank of Ireland value falls €1bn since UK financial turmoil onset

Shares in other Irish firms with large British operations also hit

Turmoil for British financial markets has hit Irish stock market companies after the new UK government unveiled a disastrous mini-budget.

Turmoil for British financial markets continued to hit large Irish stock market companies, with Bank of Ireland having shed over €1bn of its value since the new UK government of Liz Truss unveiled a disastrous mini-budget last Friday.

The crisis unfolded for sterling and British bonds after international financial debt markets took fright at the unfunded economic plans by Ms Truss and her chancellor Kwasi Kwarteng, involving tax cuts and large borrowings.