Sky News 2011, 8:30, Friday 1 April 2011
The Irish government has launched yet another attempt to rescue the country's crisis-hit financial system.
Under the restructuring plan, announced by finance minister Michael Noonan, Ireland (Berlin: IIK.BE - news) 's banking sector will be made up of "two pillars".
Bank of Ireland (Irish: BIR.IR - news) , the oldest in the country, will make up the first.
It is now in a battle to avoid the fate of its competitors as it struggles to remain in private hands.
The government has given it time to raise its own cash and stave off further taxpayer bailouts.
It has been told to sell £26.5bn (�?�30bn) of assets by 2013, but is allowed to keep its Northern Ireland division and the Post Office venture in the UK.
uk.finance.yahoo.com/news/...ynews-890643037.html?x=0&.v=1