Financial institutions express gratitude for billions

THE country’s financial institutions moved quickly to offer their gratitude to the Government for offering them billions of euro to ensure their survival.

Finance Minister Brian Lenihan has indicated the Government would have majority share holdings in AIB, EBS and Irish Nationwide following the major recapitalisation programme.

EBS, which needs a capital injection of €875 million, said it was “extremely grateful” to the Government for the financial support.