Irish banks need extra €24bn to survive crisis

The figure follows a stress test on the Irish banking system by a group of independent experts and the country's central bank, the BBC reports. Four lenders were tested - Allied Irish Banks, Bank of Ireland, Educational Building Society (EBS) and the Irish Life & Permanent. Allied Irish Banks needs most money, and will have to raise €13.5bn. Bank of Ireland needs €5.2bn, EBS €1.5bn euros, and Irish Life €4bn. Dublin already owns most of Anglo Irish Bank, Allied Irish Banks and the EBS following previous rescues of the banks. Honohan says it was likely that, as part of the nex...