Ireland Asks For European Union & IMF Bailout

And we have a second EU bailout.

Bloomberg story: Ireland Seeks European Union Rescue as `Outsized’ Crisis Overwhelms Nation.

Ireland applied for a bailout to help fund itself and save its banks, becoming the second euro member to seek a rescue from the European Union and the International Monetary Fund.

Irish Prime Minister Brian Cowen said he expects talks on the package to be completed in the “next few weeks.” Finance Minister Brian Lenihan said the loan will be less than 100 billion euros ($137 billion), though he refused to give any further details at a press conference in Dublin today.

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This entry was posted on Sunday, November 21st, 2010 at 4:08 pm and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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