Irish State to invest in Banks?

As France’s pint-sized President raps Ireland on the knuckles for precipitating a flow of UK funds to Irish accounts, Finance Minister Brian Lenihan has hinted that a move to invest capital in Irish banks might be on the cards at a later stage. However, Lenihan stressed that caution must be exercised with regard to the state capitalisation of banks and quoted the head of the British Bankers’ Association as saying that the UK may have “gone too far” in its capitalisation of some of the country’s banks and that there was “a balance to be struck in these areas”. Meanwhile, the Iseq tumbled 6.5% today, shedding 188 points.