Ryan: Govt won't be rushed into decision on banks

Energy Minister Eamon Ryan has insisted that the Government will not be rushed into a decision on how to recapitalise Irish banks.

Mr Ryan was speaking this morning amid reports than an international consortium has told the Government it is willing to invest up to €8bn in a merged entity including Bank of Ireland, Irish Life and Permanent and Anglo Irish Bank.

The Mallabraca consortium is made up of Irish and American private investors, as well as Middle Eastern state wealth funds.

Mr Ryan says the Government will have to assess all such options carefully because of the seriousness of the financial situation.