Lenihan to consider foreign-owned banks for scheme

FINANCE Minister Brian Lenihan last night announced that foreign-owned banks with a “significant high-street presence” here would be considered for the Government’s €400bn bailout plan.

But while Fine Gael welcomed the move, Labour warned it could open up a “financial Pandora’s box”.

The scheme to guarantee all borrowings and deposits was originally limited to six Irish-owned banks — AIB, Bank of Ireland, Anglo-Irish Bank, Irish Life & Permanent, Irish Nationwide, and the EBS.