Constant Brand, Duropean VoiceThe European Commission today said that it expects negotiations on Ireland's bail-out package to be completed this month.
Olli Rehn, the European commissioner for economic and monetary affairs, said that technical talks were “now well under way” following Ireland's announcement on Sunday (21 November) that, to stabilise its economy and banking sector, it is seeking multibillion financial assistance package from the EU and the International Monetary Fund (IMF).
Speaking to the European Parliament, Rehn said that the bail-out, which is reportedly to total between €80 billion and €90bn, “is warranted to safeguard financial stability in Europe”.
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