Main banks ‘need cash injection now’

WORRIED bank employees and the Consumers’ Association of Ireland have called on the Government to bring forward its plans to pump billions of euro into the country’s two remaining top banks.

About €4 billion of taxpayers’ money is being invested into the two banks, in a bid to stabilise the long-term future of Ireland’s banking system.

Both banks have indicated, however, they may seek more capital injection than this. The initiative was announced by the Government in late December.