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Don't panic, say the Irish - but Europe is getting nervous

Publié par Clifford Armion le 16/11/2010

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Sean O'Grady

"Ireland's European partners are urging the debt-stricken nation to seek immediate assistance from an international rescue fund to resolve its financial problems and avoid a repeat of the Greek sovereign debt crisis that almost destroyed the euro earlier this year.

"The warnings, led from Portugal and Spain, come as Irish government officials admit that they have been engaged in high-level contacts with Brussels about tapping the €500bn European Financial Stability Fund, backed by the EU and the International Monetary Fund. Irish Finance Minister Brian Lenihan will meet his European counterparts today and tomorrow. Mr Lenihan continues to stand by a denial that any formal application for emergency assistance has been made.

"But more preliminary discussions seem to have taken place and there is also speculation that the government may seek money for its banks rather than itself. Given that the Irish government has issued a blanket guarantee to creditors, including bondholders, of its busted banks, that in practice amounts to the same thing."

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Pour citer cette ressource :

"Don't panic, say the Irish - but Europe is getting nervous", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), novembre 2010. Consulté le 23/06/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/don-t-panic-say-the-irish-but-europe-is-getting-nervous