Ireland 'in preliminary talks with EU on bailout'
The Republic of Ireland is in preliminary talks with EU officials for financial support, the BBC has learned.
It is now no longer a matter of whether but when the Irish government formally approaches the European Financial Stability Fund (EFSF) for a bailout, correspondents say.Full Article HERE.
The provisional estimate for EFSF loans is believed to lie between 60bn and 80bn euros ($82-110bn; £51-68bn).
Dublin says there are no talks on an application for emergency EU funding.
The European Commission would not formally comment on the matter.
Eurozone officials told the Reuters news agency on Friday that discussions were under way, with one saying that it was "very likely" Ireland would receive financial assistance.
The head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, said on Saturday that it had not been asked for aid.
I'm not surprised, but I'm going to hold off on commenting until more info is forthcoming. I'm guessing better information will be out before markets open Monday morning. But earlier today from Bloomberg:
The International Monetary Fund stands ready to help Ireland if needed, its managing director said, as market concern about the country’s debt crisis continues. LINKIf I remember correctly, the larger EU member states dragged their feet and then argued while handling the Greek crisis ealrier this year. We'll see how they handle this one.