Economist: 25% chance Ireland will go bankrupt

AS bank shares tumbled on a Black Tuesday for the markets, a leading economist has warned Ireland could end up with a fiscal crisis like that seen in Greece.

As concerns heighten about Europe’s economic future, AIB shares plunged almost 13%, to 90c. Three years ago the bank’s share price was over €22.

Bank of Ireland shares also plunged 9%, to 66c, while Irish Life and Permanent shares were down 4%, to €1.98.