Ireland Moves Closer to Bailout Loan
Ireland moved closer today towards accepting that it needed to take a substantial loan in order to stabilise it’s economy.
International officials from international monetary fund, the European central bank and the EU will meet Irish officials today to try and thrash out a way forward.
The Irish government has been reluctant to accept any kind of aid package that comes with strings attached, it wants to keep control of monetary policy in Ireland which would be difficult if they had to meet conditions as part of any loan package.
Britain said yesterday that it was willing to help if needed even though it is not part of the Eurozone it said that Britain has a vested interest in a strong and stable Irish economy. Britain exports a large amount to it’s near neighbour and Britain’s banks have substantial interests in Ireland.
Any loan that is made would be substantial but would be an embarrassment for the Irish government which has insisted that it’s economy is able to cope with the demands currently placed on it.
Stock markets and the Euro were up as trading opened on Thursday morning as expectation grows that a package deal would be forthcoming in the next few days.
Photo: redspotted
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