Saturday, November 13, 2010

Ireland in Talks With ECB For 60B to 80B Euros Bailout

The BBC has just reported Ireland is in indeed talks with the ECB to tap the European Financial Stability Fund (EFSF) for a bailout. The provisional estimate of the loans is believed to lie between 60bn and 80bn euros ($82-110B USD).

"Irish officials have not denied they are in talks about accessing the EFSF but instead say "it makes no sense".

"Eurozone officials told the Reuters news agency on Friday that discussions were under way, with one saying that it was "very likely" Ireland would receive financial assistance".

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