World bailout wrap-up: Ireland expects, and it’s just a matter of time
The eyes of the world are on Ireland – and their judgement is that we now “expect” billions and billions in help.
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The eyes of the world are on Ireland – and their judgement is that we now “expect” billions and billions in help.
As finance ministers meet, Olli Rehn says there’s liquidity crisis in the banks – contradicting Brian Lenihan.
Lenihan maintains Ireland had been “the point of attack” on the state of the euro in recent weeks – but commentators believe ECB, IMF and EC officials coming here to lay groundwork for bailout.
The Taoiseach tells the Dáil, though, that Ireland is in meetings to see how it can help tackle Europe’s debt crisis.
Ireland is speaking to the EU and the IMF about seeking money for itself and its banks, says a diplomat.
The Europe minister denies telling ITV News that he believes a bailout will be sought tomorrow to assist the Irish banking sector.
The world’s press is sure of it: everywhere the government turns, it’s told to accept an international handout.
Markets source tells TheJournal.ie that Government is in “intense negotiations” with ECB while FG finance spokesman Noonan says “things will come to a head in the next 24 hours”.
For the first time in a week, the cost of Irish borrowing falls under the 8% barrier, while insuring against default also cheapens.
Brian Lenihan says the comments of the central bank governor were not softening the ground for IMF intervention.
Speculation swirls among traders about a possible IMF bailout for Ireland, sending our bond yields even higher.
Meanwhile, economist Morgan Kelly predicts another housing crash…