In a conference call of European Central Bank officials around noon Frankfurt time yesterday [Thursday], Ireland was pressed to seek outside help within days, the person said on condition of anonymity. Separately, a European Union official said a request for assistance was likely even as Irish Finance Minister Brian Lenihan told RTE Radio that such a call “makes no sense” as the government is fully funded to mid-2011.
Lenihan’s plea will fall on deaf ears, as he sounds like the US bank chiefs who claimed not to need TARP money during the US crisis.
European leaders don’t want the situation to spread or go to the brink, as happened with Greece in May.
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