Ireland uses NPRF to recapitalise banks

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IRELAND - The Irish minister for finance has confirmed the recapitalisation of Allied Irish Bank and Bank of Ireland will be funded by the National Pension Reserve Fund.

In a statement, the government said €4bn (US$5.1bn) would come from the NPRF's current resources while €3bn would be provided by means of a frontloading of the Exchequer contributions for 2009 and ...

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