The Irish Financial Crisis Was Both Predictable.
European Union officials say they're preparing a potential financial rescue package to bail out Ireland even though the Irish government hasn't asked for it. Your views: See what people in Ireland think about the country's debt bailout.
If Ireland takes the bailout. It depends what bailout they go for.
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Even if it doesn't. David Cameron says Ireland is a key trading partner and it's in our interests to keep it stable. A few years ago, it was booming, the so-called 'Celtic Tiger'. Now it's almost bust.
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In when Ireland joined the Euro interest rates fell and all of a sudden it got much cheaper to borrow money. That sparked a hike in house prices. Banks borrowed from abroad to rIish all those mortgages and loans, so when the global credit crunch happened, Ireland just wasn't able to handle it. Now the bad debts have built up, so the country's main banks are on the verge of collapsing. Your views: European Union plans to bail out Ireland.
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See how Portuguese cash problems affects UK and Ireland. Greek financial crisis explained. In pictures: Northern Ireland's police changes. How do money problems in Greece affect the UK?
Why is Ireland holding EU referendum? The country has serious debt problems after rescuing its banks. But why should we care about what's going on in Ireland? The Labour government agreed to the mechanism after the Greek debt crisis earlier this year. We would only have to pay out if Ireland didn't make payments on the emergency loan. It's our biggest trading partner in Europe. The stats are grim. It all goes back to the glory days of the boom.
The Government is planning the harshest cutbacks in Ireland's history. They've already made it clear this will affect everyone in the country. Public spending is being slashed and taxes will go up. Critics say such dramatic moves could force the country into a deeper recession. More on this story. Published 17 November Published 6 May Published 12 April Published 11 February Published 2 October ]
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