Ireland’s banks will be restructured as part of a EU financial bail-out and the financial sector will “become significantly smaller” as the result, Brian Cowen, the prime minister, said on Sunday.
Mr Cowen and Brian Lenihan, finance minister, said a “deep restructuring” would be one of the two main elements of a bail-out led by the European Union and the International Monetary Fund requested by Dublin on Sunday.
Mr Cowen and Brian Lenihan, finance minister, said a “deep restructuring” would be one of the two main elements of a bail-out led by the European Union and the International Monetary Fund requested by Dublin on Sunday.
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