Speculation Grows that Ireland Will Need Emergency Funding

Denying reports that the Irish Republic may turn to the European Financial Stability Fund for upwards of 80 billion euros (US$110 billion), government officials maintain they have merely been in contact with “international colleagues”.
However, the BBC’s Europe editor Gavin Hewitt said that high-level talks had already begun, involving European Commission President Jose Manuel Barroso and his economy commissioner Olli Rehn.

“Some EU officials believe it would be better for the Republic to accept a bail-out package now rather than to allow uncertainty to continue,” Gavin Hewitt said.

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