After weeks of disputes with the EU and the IMF, Ireland agreed to a financial aid package for 7.5 years, a total volume of 67.5 billion euros. Separately, Ireland would get 17.5 billion from pension reserves (now $ 24 billion) and uses already raised borrowing from the markets of 20 billion euros. Salvation will be in the form of a loan under 5,8%, it contrasts with the 5%-m loan to Greece. Push the IMF last week to get the key bond holders share the burden of rescue is blocked until the Irish, although smaller bondholders would have to agree with the reduction of par value. Distressed Irish banks will get an immediate infusion of capital to 10 billion euros and 25 billion more to unforeseen circumstances. Separately, Greece received a delay of 4.5 years to repay its loan to meet the conditions of granting the aid package Ireland.
Translate this page
