Monday, November 22, 2010
Ireland gets bail money
Ireland, days after saying that it needs help, but is reluctant to take strings-attached aid has been granted loans by the EU and IMF. One source said that Ireland has suggested it needs 60B euros, but have reportedly received 80-90B euros, a large number, but still not as large as Greece's 110B euro bailout a few months back.
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It will be interesting to see what type of conditions the IMF places on a EU country like Ireland. Usually, when giving aid to developing countries the IMF is able to name its terms and the country must comply. I wonder, though, how a country like Ireland will respond to stiffly imposed conditions by the IMF.
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