By Charles ForelleThe European Union and the International Monetary Fund are swooping into Ireland with €67.5 billion in bailout money through 2013. How much of Ireland’s need for cash does that cover?
About half.
You read that right. As with Greece, the international money–though sizeable, no doubt–isn’t nearly enough. Ireland will not only need to borrow long-term debt on financial markets (probably in 2012), but it’ll also have to haul in billions from savings
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