European Union finance ministers have agreed to a three-year €85 billion rescue plan for Ireland with strict conditions attached, including a draconian €15 billion austerity programme from the governing Fianna Fail and Green parties.
The scheme agreed late Sunday evening (28 November) will see an immediate €10 billion issued to recapitalise Irish banks along with another €25 billion in contingency funding set aside ready to be used should the banking system require additional sums.
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