Asia Bizz: Ireland Financial Crisis Worsens By The Day

Only a day after requesting a rescue package, the Ireland financial crisis has worsened even further. The country has asked in for a financial package worth $100 billion, a huge amount of money needed to restabilize the country. The people in country are in severe rage over Prime Minister Brian Cowen who has handled the debt and financial crisis in an utterly improper manner.

PM Cowen is said that, he will be stepping down from his post early next year, because of what he has made country suffer. Ireland today is on the verge of bankruptcy and it is not only Ireland that is prevailing in such a situation, Spain and Portugal too are having the same sort of issues in their respective countries.

All the hopes that the Euro would be shooting up and stock markets showing positive response, crumbled down after the Ireland crisis. The Euro one again fell against the Dollar and markets around Ireland were showing no signs of recovering. Even after being slammed by the crippling economy, the Prime Minister has stated that there would be an announcement of an emergency budget and also discuss about the rescue package.

Source: Washington Post


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