ECB prepares to put new bank support deal in place

THE ECB could unveil a new support package for Ireland's banks as early as next Thursday -- if the results of the stress tests are bad enough to create panic about the state of the banks. The news comes after Taoiseach Enda Kenny spent two days in Brussels trying to convince ECB president John-Claude Trichet to help the banks. The Irish Independent has learned that draft proposals for a "medium-term funding" solution for the Irish banks were circulated to ECB governing council members

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