Monday, July 25, 2011

Bank of Ireland Manages to Escape Grasp of Government

In a surprising bit of news, the markets put some faith in Bank of Ireland and helped it to stay out of state control. An investor group - located outside Ireland - is reported to have put about 1.12 billion euros into the bank. This is probably the best news the Irish banking sector has had in some time. It is also a relief for the taxpayer.