Summary
THE Irish government was last night forced to agree to an election in January amid huge uncertainty over whether it would be able to pass its budget next month, potentially leaving British banks exposed to GBP140 billion of debt.
As details of a deal to bail out the Irish economy were being agreed, two independent members of the Irish Dail made it clear that they would oppose the budget because of the GBP15bn of cuts it would bring in.See the full content of this document
Extract
Ireland's Cowen Gambles On New Year Election
The opposition of the independents dealt a severe blow to the Fianna Fail-led Irish government's wafer-thin majority of three, while the Greens, junior partners in the coalition, threatened to withdraw support for the bu...
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