Updated 15:55

Eamon Gilmore says the credit unions have a capital shortfall between them of around 11 million euro.

That's around a fifth of the total amount that the State is injecting into the stricken Credit Union in Newbridge.

The Tánaiste says the government will support any campaign to set up a new Credit Union in the town:

Earlier today,the Junior Finance Minister has admitted that more credit unions are in difficulty - but he says the problem is manageable.

Brian Hayes says the Central Bank is currently assessing the financial status of the 400 credit unions nationwide.

After the nationalisation of Newbridge Credit Union on Sunday night, through PTSB, estimates today suggest 100 more credit unions could be in trouble.

Brian Hayes, the Minister of State for public reform, told Newstalk's Breakfast claims that the sector might need a billion euro bailout fund are not accurate:

Brian Hayes says the Central Bank is taking appropriate action against troubled institutions but insists Newbridge CU was unique in the scale of its difficulties.

Fianna Fáil's Michael McGrath says an explanation of who's in trouble needs to be forthcoming: 

Future proofing

Addressing criticism of the move to nationalise Newbridge, the Minister said there was no alternative, except for immediate liquidation, which would have been €15 million more expensive because of the number and nature of Newbridge credit union's depositors.

Yesterday, PTSB's CEO Jeremy Masding released a video statement to reassure customers.