Deputy Doherty says Ireland is on brink of insolvency

The Government's preparing to announce a major overhaul of our banks - as tens of billions more Euro are going to have to be pumped into them.

Stress tests will show up to 25 billion being needed, and mergers into just two banks are possible.

The Tánaiste's told the Dáil this evening's announcements will show the true crisis the Government has inherited.

But Sinn Féin says the banking policies of the new coalition are wrong and that losses have to be imposed on un-guaranteed bondholders.

Finance spokesman, Pearse Doherty says the Government needs to force Europe's hand on this: