Calls for protests as bondholders avoid taking a hit

THE Government’s radical overhaul of the banks was criticised for failing to include any plans for strengthened European Central Bank support and burden sharing among senior bondholders.

The plan prompted calls for protestors to take to the streets over the extra €24 billion needed for bank losses as well as concern over job losses in banks.

Former Finance Minister Brian Lenihan said the Government’s “stuffing” of banks with more funds was to give international markets more confidence in Ireland.