There's €71 billion in bank bonds due by this December from Anglo Irish, Allied Irish Bank, Bank of Ireland, Irish National Building Society and Irish Life and Permanent. and a further €51.8 billion due after 2010. Source: Prof. Karl Whelan at irisheconomy.ie

Assume they manage to roll them and get an average of, say 6% on €122 billion. 6%, because the spivs in the market don't believe Irish government / bank (now essentially one entity) propaganda.  

That's €7.2 billion per anum interest payments that is being guaranteed by the Irish citizen since the blanket guarantee of all types of bond-holders by the Irish government.  About €1600 per man, woman and child per anum.  Or €6400 per family of two adults and two children.

This with an unemployment rate of around 13.4% (that's the official figure - the real rate is higher, and the rate of underemployment significant.)

It just won't fly.  The government refuses to restructure debt in an orderly way, so collapse seems to be the only option.