Ireland expected to accept bailout loan

| November 18, 2010 | 0 Comments
Ireland expected to accept bailout loan

According to the Governor of the Irish central bank, Patrick Honohan, Ireland is expected to accept a “very substantial loan”.

The news comes as speculation has been mounting all week as to whether Ireland would accept emergency funding - something which its Government continues to deny, insisting it is fully funded until at least the middle of next year.

However, Mr Honohan has told RTE radio: “The intention is and the expectation is, on their part and personally on my part, that negotiations or discussions will be effective and a loan will be made available and drawn down as necessary.”

However, the Irish Government has yet to comment, but officials are due to arrive in the country later for further discussions about the debt crisis and its beleaguered banking sector.

Today’s discussions follow a meeting in Brussels of European finance ministers, which took place yesterday.

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