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EU approves $113 billion bailout for Ireland

http://news.yahoo.com

It "worked" for Greece, why not Ireland?...
EU nations agreed an euro85 billion ($113 billion) bailout deal for Ireland on Sunday to help the debt-struck country with its banking crisis, and sketched out new rules for future emergencies in an effort to restore faith in the euro currency.
"It provides Ireland with vital time and space to successfully and conclusively address the unprecedented problems," said Irish Prime Minister Brian Cowen. "Most importantly of all, if we didn't have this program, we would have to go back to the markets, which as you know are at prohibitive rates." Yields on Ireland's 10-year bond rose in the past week to euro-era highs.

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pmfalcon's picture
Created by pmfalcon 3 years 39 weeks ago
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