The European Central Bank will not unveil medium-term funding support for Irish banks on Thursday, sources told Reuters, spoiling Ireland's grand plan for nailing its banking crisis before it is even unveiled. Dublin wants to persuade investors it finally has control of its financial woes with what it hopes is the ultimate bill for bullet-proofing its banks -- estimated at up to 25 billion euros -- and an overhaul of the sector. The plan will be unveiled after 1530 GMT and its credibility, coming after many payouts to the stricken banks already, was expected to have been underwritten by the ECB.
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