Ireland was on Sunday expected to make a formal request for a multi-billion-euro rescue bail-out from the International Monetary Fund and European Union.
Brian Lenihan, finance minister, said Ireland was seeking financial support for its debt-ravaged banks which would include “a contingent fund, a standby facility of a very large sum”. It was also looking for budgetary support.
Mr Lenihan held a teleconference call with fellow eurozone finance ministers on Sunday to discuss the request, after the Irish cabinet had earlier met to approve the move.
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