Irish Banks Rise as Junior Bondholders to Share Bill
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Irish banks soared in Dublin trading as the government said it will make junior bondholders pay some of the cost of the 35 billion-euro ($46 billion) rescue package.
“The risk of immediate shareholder-dilutive wipe-out has been averted,” Ciaran Callaghan, an analyst at Dublin-based NCB Stockbrokers, wrote in a note to clients today.