Obama administration welcome Ireland's loan move

DARA KELLY,

IrishCentral.com Staff Writer

Published Wednesday, November 24, 2010, 5:05 AM

Updated Wednesday, November 24, 2010, 5:16 AM

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The White House welcomed Ireland's decision to apply for a loan from the International Monetary Fund to combat its debt crisis.

President Barack Obama's spokesman Robert Gibbs praised Europe's decison to act quickly to address the crisis and added that President Obama has been briefed on the developing situation in Ireland at his daily economic briefings.

Ireland's financial crisis was set off by its debt ridden banks and its headline grabbing economic troubles quickly drove up borrowing costs for countries like Spain and Portugal, which may soon require bailouts of their own.

It's hoped that Ireland's massive bailout will now copper fasten financial stability in Europe.

Nster.com

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carlow98 | Nov 25, 2010, 11:58 PM EST

If you thought hundreds of years of English rule was bad; wait 'til the IMF gets through with you. And if Obama has his way we'll get a bailout from the IMF too.

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Pittsburghkid | Nov 25, 2010, 12:31 PM EST

Do not take the Loan. Do not trust Obama. The loan will come with fine print, and you will lose your independence. You will have to take in immigrants from Muslim countries, that practice genocide. These immigrants will bring the practice of genocide to ireland.

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peterson | Nov 24, 2010, 08:49 PM EST

Obama will soon be paying a visit to Ireland with hundreds of his cronies. That should "jack up" our economy -- that is the good part !

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maloney | Nov 24, 2010, 07:23 PM EST

obama's for it, your screwed.

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LoyalCitizen | Nov 24, 2010, 09:12 AM EST

Obama welcomes the money. Kachinggggggggggg. Free loading pretentious American Corporations cannot wait to get their hands on the subsidies.

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Towngate | Nov 24, 2010, 07:07 AM EST

...Financial stability in Europe. No chance. When Ireland and the other bloodsucking minnows have repaid, they will be dumped out and left to the mercy of China, Africa and the Americas....

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