Kenya to cut budget deficit to 4.5%    Taiwan GDP surges on tech demand    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Egypt's El-Khatib: Govt. keen on boosting exports    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    Cabinet approves establishment of national medical tourism council to boost healthcare sector    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    49th Hassan II Trophy and 28th Lalla Meryem Cup Officially Launched in Morocco    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



International negotiators and Ireland agree on bailout
An agreement has been reached between international negotiators and Ireland on a 85 billion-euro bailout package
Reuters Published in Ahram Online on 28 - 11 - 2010

The European Union, European Central Bank and the IMF have concluded negotiations with Irish authorities on a bailout and the deal is ready to be signed off by EU finance ministers, EU sources said on Sunday.
"The negotiations are complete and a package has been agreed on the ground," a source involved in the discussions said.
"EU finance ministers are now ready to sign off on it, but I think they will also want to discuss some of the finer details and add some political impetus to what has been agreed in Ireland," he said.
Another source confirmed the deal was in the region of 85 billion-euros. About 35 billion-euros will be used to shore up Ireland's shattered banking system. It is Europe's second bailout this year, after the 110-billion-euro aid granted to Greece in May.
Finance ministers from the 16 eurozone countries are scheduled to begin meeting in Brussels from 1200 GMT to sign off on the package, which will then be put to all 27 EU finance ministers at a separate meeting from 1400 GMT in Brussels.
The details of the bailout are expected to be announced well before financial markets open in Asia on Monday.
European Commission President Jose Manuel Barroso hopes for unanimity among finance ministers in of support Ireland, he told Europe 1 radio.
"I hope that today, at the level of finance ministers, there will be a unanimous agreement to support Ireland," he said.

Clic here to read the story from its source.