Ireland will invest at least ¤5.5 billion ($7.7 billion) in three Irish banks to boost their cash reserves, investor confidence and the banks' ability to lend, the government announced. Finance Minister Brian Lenihan said Sunday night that the boards of the three banks _ Allied Irish, Bank of Ireland and Anglo-Irish _ would issue preference shares paying fixed dividends to the government in exchange for the aid. The plan still requires shareholder approval at emergency meetings expected next month, Associated Press reported.
