Ireland on brink of bank nationalisations - papers

Ireland was last night poised to nationalise its two biggest banks as the country continues to be battered by the financial crisis.

The government is expected to take Allied Irish Banks into full public ownership, while also taking an 85% stake in the Bank of Ireland, the Independent reports. The moves will come despite the banks passing the Committee of European Banking Supervisors' stress tests in July. Read more here German haircut demands add fuel to debt crisis German plans for bondholder haircuts in Europe as soon as next year have led to further flight from Spanish, Portuguese and Irish bonds and a surge in default risk on European bank debt. News of a leaked report from German finance ministry, sug...