Ireland requests tens of billions in loans from EU
November 21, 2010: 4:23 PM ET (CNN) — Ireland has formally requested substantial “financial assistance” from the European Union to buttress the government and bolster its struggling banking sector, Prime Minister Brian Cowen said Sunday night. The European Union has agreed to accept the request, and negotiations are currently under way to determine the exact loan amount, as well as its terms, according to Cowen. Brian Lenihan, Ireland’s financial minister, said that the country would ask for less than 100 billion euros from the EU and International Monetary Fund. The comments came at a Dublin news conference around 8:30 p.m. Sunday, which followed a meeting of Cowen’s Cabinet. At that…
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Ireland requests tens of billions in loans from EU
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