LONDON — The Irish government said Thursday that four banks needed to raise an additional €24 billion in capital to cover nonperforming real estate loans, part of the results of a long-awaited stress test on the country’s failing financial institutions.
While largely expected by the market, the total aid figure was still a jarring number — one that increases the total bill for bailing out Ireland’s banks to about €70 billion, or about $99 billion, and increases government control of the banking sector.
The Irish bank losses come amid fresh concerns that Europe’s banking problems are getting worse, not better. In Spain, which is experiencing a real estate bust similar to Ireland’s, a plan for four troubled savings banks, or cajas, to merge fell through on Thursday, sparking concerns there that, as was the case in Ireland, Spain may be underestimating the depth of its banking crisis.
Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones. I am not afraid. - M. Aurelius
Please consider donating to White News Now today ---> Click Here