Ireland Agrees To EU Bailout
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After weeks of mounting pressure, debt-laden Ireland agreed to tens of billions in EU aid over the weekend.
On Sunday, EU finance ministers backed a request from Ireland for a three-year €80 billion ($110 billion) loan package. Further weeks of negotiations remain and the package could change.
The EU said the package was warranted "to safeguard financial stability in the EU and euro area."
The agreement boosted financial markets and the Euro early Monday, but gains have since waned.
On Sunday, EU finance ministers backed a request from Ireland for a three-year €80 billion ($110 billion) loan package. Further weeks of negotiations remain and the package could change.
The EU said the package was warranted "to safeguard financial stability in the EU and euro area."
The agreement boosted financial markets and the Euro early Monday, but gains have since waned.
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