Irish Bailout Agreed by EU

EU finance ministers have agreed to bailout Ireland

The Irish Cabinet held an emergency meeting today to finalize the  four- year deficit crisis plan . Earlier today on RTE radio – Brian Lenihan , Irish Finance Minister said “I am proposing to my colleagues that we should formally apply for a program”

The EU finance ministers held an emergency conference call this evening to consider Minister for Finance Brian Lenihan’s declaration that he would seek Cabinet approval to request a financial rescue package from the IMF and the European Union.

The exact amount of the loan is not thought to have been finalised.