€35 bil­lionn bailout ‘is not enough’: Dukes

The Pak Banker - - Front Page -

DUBLIN: The €35 bil­lion bailout promised for the coun­try's banks from the EU and IMF res­cue pack­age will not be enough, ac­cord­ing to the chair­man of An­glo Ir­ish Bank, Alan Dukes.

The fig­ure, which in­cludes € 10bn to be pumped into banks now and an­other €25 bil­lion on standby in case banks' losses are greater than ex­pected, fails to take into ac­count what will hap­pen when home­own­ers start to de­fault on mort­gages, ac­cord­ing to Mr Dukes. -PB News

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