EU and IMF will provide Ireland with €85bn fund
The EU and the IMF are to provide the Government with an €85bn loan to recapitalise the banks, and pay for public spending, it was confirmed tonight.
The figure, which was leaked tonight, would mean the level of capital in Irish banks would be increased from 8% to 12%.
The Government, along with the EU/IMF negotiators, are also examining the possibility of taking a 99% stake in AIB bank.
