Ireland applies for a massive EU-IMF loan to bail-out its banks

Ireland applies for a massive EU-IMF loan to bail-out its banks

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  • Ireland insists no bailout needed

    YouTube 01:51
  • Ireland bailout talks continue

    YouTube 01:54

With yields on Irish Government debt rising rapidly, it was clear that the Government would have to seek assistance from the EU and IMF, resulting in a €67.5 billion "bailout" agreement. Together with additional €17.5 billion coming from Ireland's own reserves and pensions, the government received €85 billion.

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