Ireland going for multi-billion Euro international bailout

By ASSOCIATED PRESS
November 21, 2010 21:30

 
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DUBLIN — Ireland on Sunday became the second European nation to ask for a multi-billion Euro rescue loan to help stabilize its debt-ridden banks and Europe's finance ministers scrambled to talk about ways to relieve the country's debt crisis.

Other Eurozone countries and the European Central Bank had pushed Dublin to accept help after anxiety over Ireland's massive bank-bailout bill threatened to spill over to the currency area's other shaky economies, including Portugal and Spain.

An official in French Finance Minister Christine Lagarde's office said Lagarde joined other Eurozone finance ministers on a conference call Sunday evening, but declined to comment on the timing and precise details of the talks. The talks "could go on for hours," said the official, who spoke only on condition of anonymity because of the sensitivity of the matter.

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