Skip to comments.Ireland wants rescue deal negotiated to match Spain's
Posted on 06/10/2012 9:35:11 AM PDT by Theoria
Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return, European sources said on Saturday.
"Ireland raised two issues: one is the need to ensure parity of the deal with Spain retroactively on its bailout from EFSF," one European government source told AFP, referring to the temporary rescue fund, the European Financial Stability Facility.
Another European government source confirmed the information.
Ireland secured an 85-billion-euro ($112 billion) rescue deal from the European Union and the International Monetary Fund in November 2010, but only after agreeing to draconian austerity measures.
Unlike Ireland, Spain's economy minister said a deal on financing for the country's troubled banks would not impose any conditions on the wider economy.
Dublin plans to raise the issue during the next meeting of eurozone finance ministers to be held June 21, the sources said.
(Excerpt) Read more at france24.com ...
This is about the 85th time we have gotten a ‘the problem is solved’ communique from the Eurozone. Don’t bet on it.
“You love Spain more than you love us! I’ll knock a knot on your pate with me shillelagh!”
Give one country a bail-out, every country wants a bail-out.
The U.S. taxpayers had better not be footing the bill thru
I could be wrong, but isn’t Spain’s economy much bigger and important than Ireland? If so, that is probably why they got a better deal. That and much better negotiators. Furthermore, Spain has a conservative government right now that, I believe, is enacting fiscal reforms. Not sure what Ireland is doing though.
We fund almost 18% of the IMF.
“The market is up on a plan to make a plan to rescue Europe”
The luck of the Irish -- again.