Ireland to Get Bailout from EU, Say Analysts

The debt-ridden country can likely no longer avoid asking Brussels for financial help.

The Irish government has denied that it has asked the European Union for a multi-billion euro loan, but analysts say Dublin has no choice but to go cap in hand to its European partners. The loan would be hugely embarrassing for Ireland, and would confirm that the country is essentially insolvent. But international officials currently meeting in Dublin are expected to advise the government to accept a bailout, and if Irish leaders refuse it would likely result in massive divestment from the country by worried investors. Along with Greece and Portugal, Ireland has one of the eurozone’s most fragile economies, and is expected to announce severe budget cuts and tax increases to deal with its deficit in the coming days.