DUBLIN (AFP) – The head of Ireland's Central Bank said Thursday the country could receive a "very substantial loan" that could run into "tens of billions" of euros as part of an EU/IMF bailout. With a team of international financial experts arriving in Dublin Thursday, Patrick Honohan said it was his "expectation" that a "very substantial loan, tens of billions" would be made to prop up Ireland's crisis-hit economy. "It's not my call. It's the government at the end. It's my expectation that that is what is likely to happen," he told state broadcaster RTE Radio. The mission from the European Union and the International Monetary Fund will examine Ireland's financial situation amid fears it is set to become the second eurozone economy after Greece to be bailed out this year. Honohan said that while he expected talks in Dublin to lead to a loan, he was not concerned about its effect on Ireland, where many fear a loss of sovereignty if a full bailout takes place. "I think this is the way forward," he said. "I don't see it as something that is really worrisome or should lead to a huge change in direction." Ireland's leaders have still not committed to accepting an aid package, despite international pressure, because of concerns about how the attached conditions might affect domestic issues such as its policy on tax levels. One feature the Irish government is determined to safeguard is its rate of corporation tax, which is one of the lowest in Europe. The tax has allowed Ireland to attract business but has prompted accusations from countries such as Germany that is an unfair advantage.no pressure hahahaha!!!
The head of Ireland's Central Bank said Thursday
the country could receive a "very substantial loan"
that could run into "tens of billions" of euros as part of
an EU/IMF bailout.
Thursday, 18 November 2010
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