Ireland’s banking nightmare is finally ending but the country must endure more suffering to foot the bailout bill, Finance Minister Brian Lenihan said today.

The Government’s plan to split Anglo-Irish Bank in two is no silver bullet to revive confidence in the banking sector, Finance Minister Brian Lenihan warned today.

The financial markets will this morning give their reaction to the Government's decision to split Anglo-Irish Bank.

The Government has decided that Anglo Irish Bank will be split into a funding bank and an asset recovery bank.