- Aug 23, 2009
Our government look like buffoons constantly denying these stories.
Ireland Said to Be in Talks to Get Funds for Government, Banks - Bloomberg.comIreland is in talks with European and International Monetary Fund officials about a bailout that would shore up the states finances as well as enable it to inject capital into the countrys banks, said a European official with direct knowledge of the talks.
The two-part funding package would mean Ireland wouldnt have to tap the bond market for an extended period as it tries to cut the budget deficit, said the person, who spoke on condition of anonymity. It would also give the government capital to help banks if necessary. Ireland says its fully funded into mid-2011.
Negotiations are continuing and no decision has been reached, the person said. European finance ministers are meeting in Brussels today at 5 p.m.
Irish officials have held talks with the European Commission, the European Central Bank and the IMF in the past days, the person said. Irish assessments of banking losses held up to scrutiny in those discussions, the person said. Still, markets havent been persuaded, the person said.
An Irish central bank spokesman declined to comment. An Irish finance ministry spokesman also declined to comment directly today and referred to a statement issued on Nov. 14.
The government said two days ago it was in discussions with international officials about market conditions. Prime Minister Brian Cowen said late yesterday that no formal application had been made for EU support.