Irish Stock Market Revived By 'Bad Bank' Plan

The battered Irish economy enjoyed a mini-revival on Thursday as banking shares soared after the government unveiled its “bad bank” plans.

Allied Irish Bank gained 30pc and Bank of Ireland rose 18pc as the overall market rose 4pc.

On Wednesday, the Dáil confirmed that its controversial National Asset Management Agency (NAMA) will spend €54bn (£48bn) buying bad debts from the country’s beleaguered banks.

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