Ireland's €85bn bail-out confirmed

They will provide €10bn immediately to prop up the country's indebted banking system while a further €25bn in contingency funding will be available if needed, according to the Telegraph. Another €50bn is also being offered to help it fund the ballooning deficit, which threatens to bankrupt the state, while Britain will provide €6.9bn to Ireland as part of the rescue package. However, €17.5bn of the total package will be sourced by Ireland itself, mainly from its National Pension Reserve Fund. Read more here Portugal warns German pressure could destroy Euro Portugal has warned ...