Not much detail yet, but breaking after the bell on CNBC, Ireland has said it will only accept a bank bailout and not a government bailout.
Meetings expected to continue tomorrow.
Update:
Irish rebuff bailout call in euro zone crisis
By Jan Strupczewski and Julien Toyer, Reuters
1 hr 1 min ago
BRUSSELS (Reuters) – Ireland said it was discussing stabilization measures with its European partners on Tuesday and ways to cut its heavily indebted banks’ funding costs in what a top EU official called a “survival crisis” for the euro zone.
A euro zone source said finance ministers of the 16-nation currency area meeting in Brussels would declare support for Dublin’s austerity measures and express readiness to help financially, if it asks for aid, but would not announce any practical measures.
In Dublin, Prime Minister Brian Cowen rebuffed calls to request a bailout, saying the government was fully funded until mid-2011, and insisted that only the banks may need help.
In other news, kiss goodbye any Stock Market gains in November. As Atrios says is seems that only when the Market goes down do our “leaders” in Washington pay attention, so, more days like this please.
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to European ans Asian financial issues.
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