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Sunday, November 21, 2010

Irish Bailout approved by EU and IMF

by Calculated Risk on 11/21/2010 04:09:00 PM

From the Irish Times: Irish application for IMF/EU rescue package approved

Taoiseach Brian Cowen tonight confirmed the European Union has agreed to Government request for financial aid package from the European Union and the International Monetary Fund.

European finance ministers held an emergency conference call tonight to consider a Cabinet request for aid, during which the application was approved.
The amount of the aid still hasn't been determined. Apparently the loans will be from the IMF, the European Financial Stability Facility (EFSF), and possibly from the UK and Sweden directly.

More from the Financial Times: Eurozone agrees €80bn-€90bn Irish aid

Earlier: Here is the economic schedule for the coming holiday week. There will be plenty of data released early in the week, including existing home sales on Tuesday, new home sales on Wednesday, the 2nd estimate of Q3 GDP on Tuesday, and Personal income and spending for October on Wednesday - and much more.

And a summary of last week.