Taoiseach Brian Cowen will meet the euro zone heads of government in Brussels today to discuss the Greek bailout and Irelands €1.3 billion contribution to the IMF’S rescue plan for the Greek economy
Some economists have commented that the Greek bailout decision is not overly welcomed and could be the detriment of all euro countries, including Ireland. In order for Greece to get their act together over the next two years their bailout will have be accompanied by extremely harsh conditions; "If the pain is too little and Greece fails to understand they have to sort themselves out and it ends up costing Germany, the interest rate will go up, which will affect us all. It would mean an additional 0.25% on borrowing, so the cost to us all could be huge… In Ireland it will slow our recovery, more people will have problems with mortgages and companies will be unable to expand".
Have your say: The Greek Bailout
