Ireland 'in preliminary talks with EU on bailout'

[tiger]

from the bbc
http://www.bbc.co.uk/news/business-11750676

It is now no longer a matter of whether but when the Irish government formally approaches the European Financial Stability Fund (EFSF) for a bailout.
The provisional estimate for EFSF loans is believed to lie between 60bn and 80bn euros

edit:
curious as to why this is happening now, if we supposedly have enough money for the next six months.
I suspect it's needed for the banks.

 

[Marietta]

All we need now is the announcement date of the next General Election.

 

[bpb52]

Six months is really a short time. We take in 31 B in taxes and spend 60% on public servants pay and pensions.

Can't continue like this, hence need for bailout.

Bond market is calling it right....

Country is sinking and Govt are going to fix the flag !

 

[RonanC]

We take in 31 B in taxes and spend 60% on public servants pay and pensions.

More is spent on Social Welfare than on Public Sector wages and pensions. So let me ask you, who contributes more to the ecomony?

 

[Marietta]

well if you are a public sector worker you might find out the answer to your question in a very short while.

 

[tiger]

guys, time out on the public sector debate?

 

[Marietta]

European officials are encouraging Ireland to accept a bailout to restore confidence in its solvency and stop the spread of financial-market turbulence to other euro members, according to senior EU officials.

http://online.wsj.com/article/SB10001424052748703560504575612593174135232.html?mod=googlenews_wsj

 

[PaddyBloggit]

Talking to a friend of mine today ... he works in the Dept. of Finance.

He believes the IMF will be in by February.

 

[The_Banker]

Brian Cowan saying Ireland doesn't need a bailout is akin to a 5 month old telling his parents he doesn't need a nappy going to bed.

 

[pudds]

Were coming up to end game now...remember this,

Brian Lenehan: We are not in the business of bailing out the banks

Thought the corruption in the era of Charles Haughey was bad but this takes the biscuit.


Hate to generalise but were a nation of cute hoors and now were bankrupt

 

[frankmac]

I dont think you are allowed to slag off the public sector on here

 

[pudds]

I dont think you are allowed to slag off the public sector on here

Where did I say anything about the Public Sector?

 

[Marietta]

possible a case of 'bailoutanoia'

 

[frankmac]

Where did I say anything about the Public Sector?

Sorry wasnt talking about you.

 

[pudds]

Sorry wasnt talking about you.

no worries

 

[Shawady]

Even this morning ministers are saying it is pure fiction we will need a bail out, yet talks have been taking place over the weekend about it.

http://www.rte.ie/news/2010/1115/economy.html

 

[Locke]

If the ministers are denying it you can be sure as hell it's going to happen.

 

[censuspro]

If the ministers are denying it you can be sure as hell it's going to happen.

....

 

[censuspro]

If the ministers are denying it you can be sure as hell it's going to happen.

Bear in mind that Greek politicians denied they were applying for a bailout days before they were actually bailed out.

Wall Street Journal, BBC and FT have all reported that Ireland are in bailout talks.

[broken link removed]

 

[The_Banker]

Does anybody other than Fianna Fail ministers and TDs believe we wont be bailed out?

What does it say about the country we live in that we had to find out about the bail out from the BBC and Reuters?