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Irish bailout agreed in Brussels

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Irish bailout agreed in Brussels

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Talks have concluded in Brussels to decide the conditions of a joint financial bailout for Ireland.

Finance Ministers from the 16 Eurozone countries arrived in the Belgian capital on Sunday for an emergency meeting.

Officials say the loan from the EU, IMF and the European Central Bank is now ready to be signed off. It is expected to be in the region of 85 billion euros.

On Saturday tens of thousands protested in Dublin against the government’s austerity programme. They came from all over the country to vent their anger.

The Irish government plans to cut the minimum wage, welfare benefits and public sector jobs, and raise taxes to save 15 billion euros over four years.

It has dismissed reports that the borrowing rate on the bailout loan could be much higher than the rate charged to Greece.