Debt-burden Ireland is in talks with other European Union countries about how to handle its financial troubles. Ireland denies the need for a bailout from the EU rescue fund to calm market turmoil. Greece, a nation that already received funds from the EU, had to raise its deficit figures again. The main focus was to quell market fears of an eventual Irish default. Ireland insists it needs no help because they have enough cash to avoid borrowing until mid-2011. Ireland believes it is the European Central Banks concern to boost the liquidity of the troubled Irish banks not the EU. Markets, however, reacted in a way that could lead to bankruptcy not only of Ireland but of other struggling EU nations.
For more on this story, see the article here: http://news.yahoo.com/s/ap/20101115/ap_on_bi_ge/eu_europe_financial_crisis
By: Sam Nielsen
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment