| Author (Person) | Brown, John Murray, Johnson, Miles |
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| Series Title | Financial Times |
| Series Details | 30.9.10 |
| Publication Date | 30/09/2010 |
| Content Type | News |
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Features reports that the Irish government announced on the 30 September 2010 that it would take a majority stake in Allied Irish bank, its second-largest bank, as part of a fresh multibillion-euro bail-out for the country’s lenders, forcing the government to redraft its 2011 budget plans. The cost of bailing out the Republic of Ireland's stricken banks had risen to €45bn, opening a large hole in the Irish government's finances. The cost could result in a budget deficit of 32% of GDP in 2010. Eurozone rules require that countries keep their budget deficit within 3% - something the government is maintaining it can still achieve by 2014. |
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| Countries / Regions | Ireland |
