Estimated €22bn needed to prop up banks

The amount of money needed to prop up the banks will be known later today - with estimates hovering around €22bn.

The banks will need a fresh injection of capital to cover losses on property loans moving to the National Asset Management Agency (Nama).

Economists such as Constantin Gurdgiev believe the final bill to the taxpayer could reach €60bn.

Finance Minister Brian Lenihan will deliver a highly-anticipated statement on the recapitalisation programme in the Dáil this evening.

It has been reported that some of the money is coming from asset sales by the financial institution.