Irish Banking Crisis Takes Turn For The Worst

The cost of Ireland's bank bailout surged to $100 billion yesterday, after a new round of stress tests revealed that Irish banks need tens of billions in additional government funds.

That breaks down to around $25,000 from every Irish citizen. In response, the Irish government unveiled plans to slash its largely nationalized banking sector down to just two, the Bank of Ireland and the Allied Irish Bank. The BBC's Chris Morris has reaction in Dublin.