Government to pump taxpayers’ billions into banks

THE Government is ready to pump billions more of taxpayers’ money into the troubled banks – who are expected to show their gratitude to the public by raising charges.

Taoiseach Brian Cowen confirmed the Government is prepared to provide further recapitalisation. It came after Central Bank governor Patrick Honohan told an Oireachtas committee that the banks would definitely require more capital.

But Fine Gael leader Enda Kenny warned there would be a “revolution in the streets” if the Government put any more money into Anglo Irish Bank.