Ireland Accepts Bailout, Concerns for Euro Zone Grow

Monday, November 22, 2010

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  • A man leaves the Bank of Ireland in Dublin, on November 15, 2010. Ireland admitted Monday it is in contact with 'international colleagues' over its debt crisis but denied seeking a bailout. Enlarge

    A man leaves the Bank of Ireland in Dublin, on November 15, 2010. (Peter Muhly/Getty)

  • “ The country's been under a great deal of pressure to accept a bailout particularly from powerful members of the Euro single currency zone such as Germany and France. Now those countries are worried that if Ireland were to come close to default, if there were to be a crisis other members of that zone like Portugal and Spain might then find it difficult to borrow themselves, get into trouble as well, and we would have a sort of destructive cycle through the Euro zone.
    — Theo Leggett

Ireland's bailout moves forward, as the country takes a $140 billion from the International Monetary Fund. The move has postponed some looming problems for Portugal, which the E.U. also worries is in need of large-scale financial help. But questions remain about whether the bailout of Ireland will create the necessary stability in the Euro single currency zone or not. The BBC's Theo Leggett joins us for more.  

Guests:

Theo Leggett

Produced by:

Kate McGough

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