Bureau Chief, UK and Ireland
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Nov 23, 2010

Ireland on knife-edge amid bailout fury

DUBLIN (Reuters) – Ireland’s government was on a knife-edge on Tuesday with damaged Prime Minister Brian Cowen challenging the opposition to let an austerity budget pass and trigger an EU/IMF bailout before early elections.

Amid public fury over the way he handled the rescue, Irish media said Cowen may face calls to resign immediately or turn over leadership of his Fianna Fail party before the next election at a meeting of party lawmakers later on Tuesday.

Nov 23, 2010

Ireland set for nervy two weeks until budget vote

DUBLIN, Nov 23 (Reuters) – Ireland begins two nervous weeks
of political manoeuvring on Tuesday as the government dares the
opposition to block an austerity budget on which a multi-billion
euro EU/IMF bailout is riding.

Irish Prime Minister Brian Cowen defied mounting pressure to
quit on Monday, saying he would stay in office until parliament
passed the budget, then call an early election.

Nov 22, 2010

Irish government near breaking point as allies quit

DUBLIN (Reuters) – Ireland’s government neared breaking point on Monday as supporters defected and opposition parties called for an immediate election that could force a crucial 2011 budget — and IMF/EU support — to be postponed.

The political turmoil accelerated a day after Ireland requested a bailout from the European Union and IMF, likely to be worth around 80 billion euros (68.3 billion pounds), to shore up its banks and budget against the effects of the global credit crunch.

Nov 22, 2010

Irish budget jeopardised by independents

DUBLIN, Nov 22 (Reuters) – Two independent members of
parliament said on Monday they may withhold support from
Ireland’s 2011 budget, effectively depriving the government of a
working majority.

The challenge by Jackie Healy-Rae and Michael Lowry,
independents who had supported the government, puts Prime
Minister Brian Cowen’s 6 billion euro package of spending cuts
and tax rises in jeopardy.

Nov 22, 2010

Officials begin work on Irish bailout details

DUBLIN (Reuters) – European and IMF officials will start thrashing out the details of a three-year bailout package for Ireland on Monday while the government puts the finishing touches to a 15 billion euro ($20.5 billion) austerity plan.

The EU and the IMF agreed on Sunday to help bail out Ireland with loans — expected to total 80 to 90 billion euros – to tackle its banking and budget crisis.

Nov 22, 2010

Irish seek aid as Europe tries to ensure stability

DUBLIN/BRUSSELS (Reuters) – The EU and IMF agreed on Sunday to help bail out Ireland with loans to tackle its banking and budget crisis in a bid to protect Europe’s financial stability.

Ireland, facing widespread public anger over its handling of the crisis, formally requested the aid on Sunday evening.

Nov 21, 2010

Ireland finmin Lenihan confirms to ask for bailout

DUBLIN (Reuters) – Ireland will seek a bailout from international lenders, the Irish finance minister said on Sunday, ending weeks of speculation that the country needs aid.

“I will be recommending to the government that we should apply for a programme and open formal negotiations,” Brian Lenihan told public broadcaster RTE. He said a plan to restructure Ireland’s banks was likely to be a key feature.

Nov 21, 2010

Irish cabinet meets on fiscal plan, support crumbles

DUBLIN (Reuters) – The Irish cabinet meets on Sunday to rubberstamp a four-year program of spending cuts and tax measures that is expected to be published early next week and then be followed swiftly by an international financial bailout.

Support for the Irish government has collapsed over its handling of the country’s economic and financial crisis and is now at a record low: “You have lied, You have let us down. For Ireland’s sake, go now” demanded the Sunday Independent newspaper under a front page picture of the cabinet.

Nov 21, 2010

Irish corporate tax in focus as bailout deal nears

LISBON/DUBLIN (Reuters) – French President Nicolas Sarkozy said on Saturday he expected Ireland to raise its corporate tax rate but added that an increase would not be a condition for any bailout.

International Monetary Fund and European Commission officials are in Dublin to discuss financial aid to help Ireland cope with its struggling banks, whose huge liabilities have sent Irish borrowing costs soaring.

Nov 20, 2010

Ireland’s four-year plan to be published Tuesday: report

DUBLIN (Reuters) – Ireland’s four-year plan to reduce its deficit will be published on Tuesday, ahead of any international financial aid package, the Irish Times newspaper reported on Saturday.

International Monetary Fund and European Commission officials are in Dublin to discuss a bailout to help Ireland cope with its struggling banks after concerns about bank liabilities and plans to restructure eurozone debt sent borrowing costs rocketing.

    • About Jodie

      "Based in London, I manage our team of Reuters' text journalists and photographers here and in Dublin - covering everything from company news and economics to sport and culture. I have been with Reuters for 10 years, including three years spent covering equities in Johannesburg."
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