Ireland told: Take EU bailout or trigger crisis

European Union has warned Ireland, and they have 24 hours to make a decision about the bailout.

 The increasingly isolated Irish goverment became under high pressure tonight to seek an EU or Internatiol Monetary Fund bailout within 24 hours. They fear a contagion from their weak banking sector, which might spread the weaker eurozone countries.

Brian Cowen 's coalition came under a lot of pressure from Spain, Portugal, and the European central Bank, because they do not want a second crisis within six months and they asked him to eliminate this threat by putting up a firewall between Ireland and its 15 Euro partners.

reaction:
I think that Ireland should not think about their independence and let the monetary fund help them. It is not only for Ireland, but all European countries suffer from this financial crisis one way or another. I understand that the Irish are free and independent for just 80 years and they want to hold on to that. A bailout would mean that the EU get more control over the Irish goverment and their decision, because their financial crisis has to be solved.

adress:http://www.guardian.co.uk/business/2010/nov/15/ireland-portugal-spain-european-debt-crisis