Thursday, November 18, 2010

Irish Officials May Seek Financial Help

Irish officials for the first time that they may need some financial help to stimulate their failing economy. Banks have began to fail, and Irish businesses are no longer prospering. Irish officials have been reluctant to ask for any financial help, as they do not want to deal with agreements that may be attached to the loans. Some economists have argued over the amount of euros that need to be distributed throughout Ireland. The U.S. treasury has stated that Ireland seems to be moving closer to some sort of resolution. The issue is that nobody is really sure what Irish officials are planning to do. Other European countries such as Germany have reached out to Ireland, and allowed them to apply for for financial aid. The European bank has also stepped up a provision of funds to the Irish central bank, for a distribution of money throughout Ireland's institutions. Most economists seem to believe that Ireland and the rest of Europe for that matter will rebound economically but there is no specific time table.

Tim McEniff
www.nytimes.com/2010/11/19/business/global/19euro.html?pagewanted=1&_r=1&hp

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