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Wednesday 21.02.2018 | Name days: Eleonora, Ariadne

EU and IMF could grant 90 billion euro to Ireland

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The amount of financial assistance for Ireland, which has been affected by the world economic crisis, could reach 80 – 90 billion euro, reports Agence France-Presse in reference to two unspecified diplomatic sources.

The Irish government has filed a formal request to the European Union (EU) asking for assistance. Shortly after that both EU and the International Monetary Fund (IMF) announced the readiness to grant financial means to the country; however, the exact sum was not disclosed.

The Representatives of EU, IMF and the European Central Bank flew to Dublin on November 18 to examine Ireland’s financial situation.

The European banks’ investments in the Irish financial market account for hundred billion dollars; thus, if the country or its financial institutions go bankrupt, this would negatively affect the whole EU economy.

According to some estimates, in 2010 Ireland’s budget deficit could even exceed 30% of the gross domestic product (GDP).

Ireland’s Central Bank’s representatives revealed that the state will ask EU and IMF to issue a loan at the extent of several tens of billion euros. The loan rate could reach 5% per year.

The Bank’s representatives also indicated that the amount of loan must be large, to prove that the country has enough «ammunition» to combat any financial threats.

However, previously the state officials repeatedly emphasized that Ireland does not need EU’s assistance.


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  1. Tom says:

    Ahhh, those proud Irish people, dragging down other as well with not accepting help

    Thumb up 0 Thumb down 0

  2. Dian says:

    90 billion euro – that’s a lot!…

    Thumb up 0 Thumb down 0

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