Saturday, November 13, 2010

Bankers urge debt-ridden Ireland to take emergency aid - Sydney Morning Herald

IRELAND is being urged by European policymakers to take emergency aid to contain a debt crisis rattling its markets, a source briefed on the discussions says.

In a conference call of European Central Bank officials on Friday, Ireland was pressed to seek outside help - up to ?60 billion ($A83 billion) - within days, the source said.

Separately, a European Union official said a request for assistance was likely even as Irish Finance Minister Brian Lenihan told Irish Radio RTE that such a call ''makes no sense'' as the government was fully funded to the middle of next year.

However, Julian Callow, chief European economist at Barclays Capital in London, said it seemed ''difficult for Ireland to avoid tapping the fund unless it has new rabbits to pull from its hat''.

BLOOMBERG

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