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The Republic of Ireland and the EU have agreed a financial rescue package, Irish Prime Minister Brian Cowen has confirmed.
The taioseach said the amount and terms would be negotiated in the coming days with the EU and the IMF.
Irish Finance Minister Brian Lenihan said the amount would be less than 100bn euros (£85bn; $136bn).
Originally posted by Subjective Truth
reply to post by moosevernel
Hmm I bet some people in Ireland will not take this to well. The Irish are a strong people I bet they will not take this laying down. Time will tell but if nothing is done soon the sovereignty of all the EU countries could be at stake.
The International Monetary Fund (IMF) is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalising economic policies on other countries as a condition for loans, restructuring or aid. It also offers highly leveraged loans, mainly to poorer countries. Its headquarters are in Washington, D.C., United States. The IMF's relatively high influence in world affairs and development has drawn heavy criticism from some sources.