Stress tests announce further €24bn for stricken banks

The final bill for bailing out Ireland’s banks will be €70bn after stress tests by the Central Bank in Dublin detailed that four institutions need another €24bn.

Central Bank Governor Patrick Honohan said AIB will need €13.3bn, Bank of Ireland will need €5.2bn, the EBS will need €1.5bn while Irish Life and Permanent will need a whopping €4bn, more than double what was expected.