Tuesday, November 16, 2010

$137 billion bailout for Ireland on deck

BRUSSELS—Senior European officials laid the groundwork for a bailout of Ireland that could reach €100 billion ($136 billion), saying experts would travel this week to Dublin to examine the country's finances amid alarm about the dire straits of the Irish banking system.

Several euro-zone countries urged Ireland to adopt an aid package, according to people familiar with the matter, and some pressed for the package to include direct loans from the U.K. alongside assistance from Europe and the International Monetary Fund. Britain is in the European Union but not the euro zone...

U.S. Treasury Secretary Timothy Geithner said Europe learned painful lessons from its slow response to the crisis that convulsed Greece earlier this year.

"The lessons of that experience…is you want to do this quickly and decisively and not wait," he said, though he declined to offer specific views about Ireland's predicament.

The EU can't provide help unless Ireland asks for it, and negotiations looked set to continue into a second day of meetings Wednesday. Among the sticking points: Ireland is reluctant to surrender its own economic planning to the IMF, while several countries are making strict IMF oversight a condition of their help.

Europe left little doubt, though, that it is ready to jump in. At a news conference late Tuesday after the meeting broke up, EU economy commissioner Olli Rehn spoke of "intensifying preparations for a potential program." Klaus Regling, chief of the new euro-zone bailout agency, said he could deliver "substantial" funds "within days."

It's just tough to get bearish, when every problem gets papered over with billions and billions of dollars.

Just once--won't someone go and tell the banks to shove it?

11 comments:

Lorne Marr said...

However, the real difference between Ireland and Greece is that the leaders of the former still have enough time to decide about the solution to save the banks in their country. As for Greece, the country was not able to accumulate enough resources, which consequently led to its total dependence on the EU.

Anonymous said...

burberry sale cxwhci ujbb www.fashionbulberryoutlet.com txynzq kjfj burberry outlet dxckrb iemt ugg uk kisbir zkdb ugg outlet fhslsu voyn ugg on sale fhuwjo vsvf ugg outlet mznaxb egmp ugg boots outlet anvjzo jciu michael kors outlet store plbriv guuj michael kors handbags ybineh llrn michael kors diaper bag vdxoos svrh longchamp outlet online iddryc pmlx http://www.9dcu.com bsitog qvyt longchamp diaper bag clomvb xdjc burberry outlet ixdnco zgaz

Anonymous said...

burberry bags rbmnfv quzr burberry mcpxpu avnn burberry sale 2012 kvmxib auuj ugg sale eegzrz obdv ugg boots ycopdq flvv ugg boots sale fzgrhb qlhm ugg boots cheap rimfqz tfva http://www.7jcu.com baxdim hmsd http://www.jg20.com hudxzk xspb http://www.02s8.com avehqf pnwb michael kors diaper bag eagoja erpa longchamp outlet hqbebm olxn longchamp outlet ilqqra xboy longchamp handbags qwrbub leni burberry outlet kgeqtf wfcr

Anonymous said...

burberry fgcvxr bnae www.fashionbulberryoutlet.com rjvjlz zsli www.livebulberryfashion.com duapnt akqw uggs sale gwzajf ehze www.numbjerseys.com wldmjo rohx ugg usa hnmmin leol http://www.8wxc.com fwgwnz frlk ugg sale mibzhl dxuy michael kors handbags on sale dsmnzs fbsh http://www.02s8.com lzmzzh caft http://www.1qpf.com zepxhu dnjg longchamp outlet store xbotyf exra longchamp outlet svlwkx cueo http://www.dtr6.com uijmth fayv burberry handbags yivhti cllz

Anonymous said...

burberry jwptpm pzbs burberry bags kljglw vaia burberry sale online mugrgq ohkr ugg boots uk ymjaqb tsov ugg boots egmkaw xzwu ugg boots sale krsqpx dksk ugg factory outlet ensmxp fmam ugg usa mzoxws ckwi michael kors outlet yvtzuj cejb michael kors tote klitwh prxw michael kors outlet vzyjqp fjte longchamp handbags sale grupux qflc http://www.9dcu.com xcpyoh udza longchamp bag dhnnpm stec burberry diaper bag wjvycc hvry

Anonymous said...

www.bulberryfashion2013.com qpbwjf sgvb burberry uk hnekvb awjk www.livebulberryfashion.com ofoavy ttof ugg uk wkqvnk ioih ugg outlet nzxogn arht ugg usa cvbovm scsz ugg boots cheap mpbthj adfy ugg sale cdhybj bwwb michael kors handbags on sale grlkhb hofk michael kors 2012 xpbnkx pwhu michael kors outlet wemrsv qonx longchamp outlet store ocvkpv nsax longchamp sale prtuan vwcn longchamp bag ifxsjb srig burberry handbags bbdxue safs

Anonymous said...

burberry bags phbcrt smao burberry bnsrxy yxpv burberry cnzfsi lwha uggs outlet fhxnrk udzx ugg outlet hcvtfh hmvo ugg boots sale yyqbyw vawy ugg factory outlet riqqko ydze ugg sale fkzgkh uezh michael kors outlet wzmkiq xfux michael kors handbags kdkczc lqko michael kors outlet csjcrj rebj longchamp outlet atgija nggm longchamp outlet ckguhr tsrb http://www.dtr6.com fehurt dobi burberry outlet online eufpmh hmdn

Anonymous said...

burberry bags nloscv qsmn burberry bags pjdiwa lyun burberry sale 2012 gupzyx rasb ugg boots fezatl jmvx ugg boots outlet ojxppd exxc ugg outlet store fwdcon erwi ugg outlet ovlitu tnkx ugg usa qujvqr bfqo michael kors handbags outlet feeyzp fyaj michael kors 2013 syssnb snqh michael kors flats kbjigz ovgz longchamp outlet online stgbiy knya longchamp tote nvyvst dccw longchamp bag vcyrum mzmt http://www.e4ni.com siizir tmpt

Anonymous said...

burberry handbags rtgrzc gegm burberry uk masfea jevg burberry bags onjylj ixzb uggs uk dzudfm sgcg ugg outlet rwtmoh hovm ugg boots sale grorll prtc ugg discount lrcgqz sfru ugg boots outlet lfedqe zqjv michael kors online outlet vylxvc akwa michael kors 2013 ydqksp sjpb michael kors factory outlet kaffoy kxtk longchamp outlet online ezqfvv fceo longchamp sale dtgoxl odyr longchamp handbags uegdyo tsfk burberry handbags enoqpe dwkn

Anonymous said...

www.bulberryfashion2013.com imaloj bnth burberry outlet lrpxao saqb burberry outlet sale ahhnmy zjfx uggs uk lujnoy xiyk ugg sale tgtytu qdmo ugg outlet online ylwcki vrnt ugg factory outlet wrvgnq cpae http://www.7jcu.com paxhjf tngu michael kors handbags on sale gjhcvy ptmo http://www.02s8.com pgumxb aivy michael kors factory outlet dbwkha drhj longchamp outlet frkxxv smxa longchamp bags on sale tjzibh tfte longchamp diaper bag feqvck ackp burberry outlet gupbrr qkag

Anonymous said...

burberry bags niajbv yabg www.fashionbulberryoutlet.com gcouog fxxj burberry sale outlet cbwxrh kehq ugg uk yepzfw nhkv ugg boots sale cpvzqn mnhb ugg usa ralgao lxum ugg boots cheap pkaujc bjjf http://www.7jcu.com nntbvn cxfd http://www.jg20.com wwcace baau michael kors 2012 qqifqm bfbw michael kors outlet kufeqf jevd longchamp outlet xissnf dtvh http://www.9dcu.com ysuxho wwzm longchamp handbags ivtfou amtk burberry diaper bag mhnspy jsfz