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The following article was published in our article directory on November 19, 2010.
Learn more about SpinDistribute Article Distribution System.

Ireland Will Become the Euro Area Debt Crisis Source

Article Category: Business Management

Author Name: xia zihui

By the European Union, the International Monetary Fund (IMF) and European Central Bank beginning with the delegation of experts on the Irish banking system accounts for inspection and evaluation to determine whether the country's banking sector restructuring on their own, or have to start "in Europe Financial Stability Fund "last-minute rescue procedures.

Central Bank of Ireland John Huonuo 18, said he expected the Irish to accept the EU and IMF loans.

Recently, fears that Ireland is becoming a new wave of euro-zone debt crisis of the source. However, after the Irish Government has repeatedly insisted in mid-2011 funding gap does not exist and therefore does not need outside help, but its banking sector the situation is indeed serious, need to be addressed.

Size may not help

Huonuo John Irish national broadcasting television in an interview, said: "I think this is the way forward. The market conditions have allowed us not seek the help of international partners."

18, the Irish government in Dublin and the European Commission, the European Central Bank and the International Monetary Fund's technical team to start negotiations, the focus is how to maintain the stability of the Irish financial system. Huonuo John said it is unclear the exact size of the loan, but the loan interest will be down 5%. He said the loan will be used to show that the Irish have "sufficient firepower to respond to market concerns."

Huonuo John also mentioned that the Irish government will strive to avoid the increased budget deficit in 2011 the target reduction of 6 billion euros, while avoiding the increased Irish four-year plan set up for the reduction of budget deficit goal of 15 billion euros.

Day, the Irish finance minister Lenihan also said that EU aid program the focus of discussion is the bank's capital requirements, while the British government said may provide a bilateral loan to help the Irish crisis.

Irish government is striving to minimize the scale of aid to ensure that relief conditions are not to be too harsh. Meanwhile, the Irish government will not accept the assistance of its corporate tax to be linked with the enhancement of domestic requirements. At present, Ireland's first and foremost concern is to improve the company tax rate. Ireland 12.5% of the corporate tax is the lowest in the EU, other EU countries complain about Ireland's low tax which is a form of unfair competition.

Love the housing market crisis-ridden

Real estate bubble burst, leading to the Irish banking system debt. Currently, the real estate market conditions remained worrisome. Bank of Ireland, 17, released the latest figures show that the third quarter of 2010, the arrears of more than 90 days compared with the number of mortgage accounts increased by 11.1% in the second quarter. As of the end of September 2010, mortgage lender, a total of 522 housing units to recover the right of redemption, which recovered 81 sets of the third quarter of residential foreclosure, dealing with 54 sets. Data show that the existing 789,000 Irish private residential mortgage accounts, loans more than 117.4 billion euros. The third quarter of accounts in arrears over 90 days number of 40,472, of which 7.8 billion euros more than 90 days delinquent loans, and another 5.5 billion euros more than 180 days delinquent loans.

President Barack Obama this weekend to attend the NATO and the EU summit in Portugal, when European leaders will discuss matters relating to the debt crisis of Ireland. Gibbs said the United States believe the EU has the ability to resolve the current crisis. However, the U.S. Treasury secretary, said after the Greek EU response to the crisis was too slow to solve the debt problem should learn from the Irish need to quickly and decisively, the crisis can no longer wait blindly upgrade.

About the Author: I'm Jerri Lily from , which offers quality products such as China slitting machine, China others, and many more.

Keywords: China slitting machine, China others,

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