Open

Coming up

Don't miss

Replay


LATEST SHOWS

FACE-OFF

France on alert after attacks: a case of collective hysteria?

Read more

THE INTERVIEW

'Beijing needs to revaluate its policy in the Tibetan areas', says FM of the Tibetan government-in-exile

Read more

INSIDE THE AMERICAS

Uruguay: freed Guantanamo detainees try to adjust to normal life

Read more

MIDDLE EAST MATTERS

Turkey: Inside the Alevi community

Read more

FOCUS

China: A tense Christmas in Wenzhou

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart (part 2)

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart

Read more

WEB NEWS

Gaza children draw what their future will look like

Read more

MEDIAWATCH

Catholic cardinals get coal for Christmas from Pope Francis

Read more

Europe

Ireland secures 85-billion-euro EU aid package

Text by News Wires

Latest update : 2010-11-30

European ministers ratified an 85-billion-euro bailout package for Ireland in Brussels on Sunday, a day after tens of thousands of protesters took to the streets of Dublin to voice opposition to financial intervention from the EU.

AFP - Ireland's bailout was formally announced Sunday at 85 billion euros (113 billion dollars), 10 billion of which is for "immediate recapitalisation" and 25 billion for contingency support to its banking sector, the head of the Eurogroup said.
   
Finance ministers from the 16 countries that share the euro currency, plus non-euro Britain, Denmark and Sweden, each of whom are making bilateral loans available to Dublin, "unanimously agreed today to grant financial assistance" to Ireland, Luxembourg Prime Minister Jean-Claude Juncker said.
   
The programme of loans, with 50 billion euros set aside for "covering budget financing needs," and "rests on three pillars," he said.
   
These are: an "immediate strengthening" of Ireland's banking system, an "ambitious fiscal adjustment" in order to bring Ireland's 32 percent of GDP annual deficit this year back within EU norms, of three percent, "by 2015," as well as broader economic reforms "in particular on the labour market."
 

Date created : 2010-11-28

  • IRELAND

    Dublin requests financial bailout from EU, IMF

    Read more

  • IRELAND

    Ireland's finance minister to push for EU, IMF bailout

    Read more

  • IRELAND

    Irish government 'expected' to accept EU/IMF bailout

    Read more

COMMENT(S)