Thousands Protest Irish Nightmare Economy

Leo Panitch: U.S. created financial crisis and European banks turned the Irish Miracle into a nightmare

85 Billion Euro Bailout Approved for Ireland

itnnews--November 28, 2010--Head of eurozone ministers Jean-Claude Juncker announces that an 85 billion euro bailout package has been announced.

50,000 Protesters March against IMF in Dublin

Itn news—Nov. 27, 2010--An estimated 50,000 demonstrators have gathered in Dublin to protest against plans for an IMF bailout of the Irish economy.

Irish Banks Sink on Expectations Banks Heading Toward More State Ownership

"Irish banks Allied Irish Bank (AIB) and Bank of Ireland (IRE) are lower amid expectations that the banks are heading toward greater state ownership, AP reports.

There is deep skepticism that an international bailout loan -- whose details are expected to be unveiled Sunday -- will be enough for Ireland to resolve its debts, the story said.

Speculative media reports in Dublin and Brussels fueled nervousness, with claims that the International Monetary Fund and European Central Bank experts driving the loan talks in Dublin would like to make Ireland's senior bondholders -- chiefly foreign banks -- eat losses in Ireland's debt-crippled banks.

AIB was last down 12.48% and IRE down 8.86%."

Ireland Struggling Economy

World Business: Ireland, once one of Europe's hottest economies is in a sorry state. Laden with debt, but desperate to avoid asking for help from the IMF and EU, the country has to take drastic action. With four companies going bust every day, and unemployment soaring, it will take all the luck of the Irish to get out of this economic mess.Reporter: Diana Muriel