Irish face Christmas of austerity as EU announces loan calendar

The European Union (EU), under the auspices of the European Financial Stability Mechanism (EFSM), and the European Financial Stability Facility (EFSF,) finalised their issuance calendars to raise funds to provide financial support to Ireland in December 2010.

The EU intended to launch a first bond at the beginning of January 2011. The EFSF was expected to follow with its first bond issue towards the end of the same month. The EU and the EFSF would however carefully analyse the markets after they reopened in the New Year and might adapt funding plans accordingly.

EUObserver article reviews the state of the mood in Ireland just before Christmas 2010.

• Primary Source

European Commission: Press Release, IP/10/1768: EU and EFSF funding plans to provide financial assistance for Ireland http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/1768&format=PDF&aged=0&language=EN&guiLanguage=en

ESO: Background information: Irish minister to recommend bail-out http://www.europeansources.info/record/europe-signs-up-to-irish-rescue-eurozone-must-deal-with-two-urgent-questions/

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