Irish bank shares jump on gov't euro10 billion pledge

Finance Minister Brian Lenihan called Monday for Ireland's banks to accept up to euro10 billion ($13.5 billion) in government investment as the best way to guarantee that none collapses under the weight of bad debts.

"We've done a very detailed, case-by-case analysis of the impairments on the loan books of all the Irish financial institutions. And our judgment is up to 10 billion should be available in capital for the Irish banking sector," Lenihan said in an interview before an emergency session of the Irish Cabinet to advance his plans.

Shares in Ireland's four publicly quoted banks rose in response to Lenihan's hope of boosting the banks' cash …