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Says the BBC this morning:

Irish Central Bank governor Patrick Honohan has said he expects the Irish Republic to accept a "very substantial loan" as part of an EU-backed bail-out.

Mr Honohan told RTE radio he expected the loan to amount to "tens of billions" of euros.

The final decision will be up to the Irish government, which has yet to comment.

Mr Honohan's comments come as a team of international officials meet in Dublin for further talks on the debt crisis.

Representatives from the International Monetary Fund, the European Central Bank and the EU will meet the Irish government, which has denied that it has asked for aid.

Mr Honahan said that any loan would be substantial.

"It'll be a large loan because the purpose of the amount to be advanced or to be made available to be borrowed is to show that Ireland has sufficient firepower to deal with any concerns of the market. That's the purpose of it," he told RTE.

An EU handout would be seen as a big loss of face for the Republic - essentially meaning that its survival and solvency was reliant on Brussels.

Right. Never mind that any so-called insolvency is a result of corrupt idiots giving free public money to thieves instead of spending it on useful things.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu Nov 18th, 2010 at 08:21:32 AM EST
Is there any difference between Irish politicians that place their country in debt to pay and hand it to their masters and politicians in poor African countries doing the same? Should not Ireland then be classed among the most corrupt countries in the world?

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by A swedish kind of death on Thu Nov 18th, 2010 at 08:51:18 AM EST
[ Parent ]
Ireland has been shown to be as corrupt as Iceland, both quantitatively and qualitatively...

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Migeru (migeru at eurotrib dot com) on Thu Nov 18th, 2010 at 09:05:03 AM EST
[ Parent ]
They have higher  per capita income flows to play with, and so can spread the wealth around more widely among the political class?

Just guessing, mind.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Fri Nov 19th, 2010 at 01:47:58 AM EST
[ Parent ]
The Irish state still pays its civil servants enough that they don't have to resort to more or less veiled extortion of their clients just to make ends meet.

So no, Ireland is not one of the most corrupt countries in the world. Yet. But not for lack of trying.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Nov 19th, 2010 at 05:12:07 AM EST
[ Parent ]

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