TDs and Senators have cast doubt on the effectiveness of the new board set up to improve the behaviour of banks in the wake of the €1bn tracker mortgage scandal.

Central Bank Governor Patrick Honohan today said he expects the country to get a loan worth tens of billions through an International Monetary Fund-European Union rescue package.

The state’s largest trade union accused the Department of Finance tonight of sabotaging attempts to get the country out of recession by targeting the less well-off.