The Irish government is to set to request money from the European bailout fund, the 440 billion euro European Financial Stability Facility. In doing this, the Irish government is enabling banks to drain tax payers throughout Europe in order to pay interest on fraudulent paper debts engineered by Irish banks now that the Irish people have been squeezed to the limit.
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13 Nov 2010
Ireland is likely to follow Greece in receiving an emergency European Union bailout to rescue it from bankruptcy.
Talks have begun between the Irish Government and the EU after borrowing costs shot to record highs amid concerns about the country’s ability to reduce its public debt burden.
Fears had been expressed that private bond holders could be forced to shoulder part of the costs of any bailout by taking losses – known as “haircuts” – on their stakes.