Print Story: Irish head toward bailout; Portugal next in line? - Yahoo! News
Irish head toward bailout; Portugal next in line?
Thu Nov 18, 12:43 pm ET
DUBLIN – Ireland edged toward taking a bailout loan from the European Union to bolster its debt-crippled banks — but the prospect offered little reassurance that other corners of Europe could cope with their own crushing levels of government debt.
After Greece and likely Ireland, analysts say Portugal may be the next country in the 16-nation eurozone to need assistance. They suggest the crisis is now being driven less by irrational fears than by a growing realization that debts are too big for vulnerable nations to refinance, never mind pay back.
Experts from the European Commission, European Central Bank and International Monetary Fund descended Thursday on Dublin to explore the scope and terms of a bailout. European officials agreed to send them at a summit Tuesday after weeks of Irish denials that they required any emergency aid. The talks were to run into next week.