Ireland ties hopes of ending the crisis with $142 billion package

By @ibtimes on

Ireland is currently counting on their financial plan of $142 billion to be enough to resolve their banking crisis, where the central bank yesterday instructed lenders to raise 24 billion euros along with announcing further plans to merge both of them.

This follows efforts by the government to revive the financial services industry by injecting 46.3 billion euros into it, making up two-thirds of the Irish economy, alongside creating an agency that paid over 30 billion for risky property loans for banks for the past year. Meanwhile, Ireland's largest lender Bank of Ireland Plc gained 23% to 27 euro cents in Dublin trading as it plans to evade majority state control after the order to raise up to 5.2 billion euros.

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