Ireland forced to take EU and IMF bailout package

Telegraph
"G7 and euro zone finance ministers including George Osborne, the Chancellor, held emergency telephone conference talks on a combined EU-IMF rescue package of up to £77 billion.British taxpayers now face paying a bill of up to £7 billion as under a deal signed by the last Labour government, British taxpayers are liable to share in the cost of any EU bail-out.On Monday Irish and euro zone governments will be watching the markets after Greece, which received a £94 billion bailout in April, warned that the EU’s debt crisis was not finished yet.Portugal has already warned that there is a “high risk” it might need economic help. If investors are unconvinced by the Irish rescue package, the euro could come under pressure while the cost of borrowing for the Dublin government could rise. "