In both cases the IMF could contribute up to 50 of the aid

aasian following their meeting yesterday evening in Brussels, 17 of the Finance Ministers of the euro area have reiterated their confidence in measures taken both in the Ireland in the Portugal and Greece for the recovery of public finances while showing their unit to ensure the stability of the euro area. About the Ireland, the European Commissioner for Economic Affairs Olli Rehn announced "the intensification of discussions to prepare for a potential program with a focus on the restructuring of the banking sector, where the Ireland request and where the members of the eurozone may judge necessary". "We welcome the determination of the Irish Government to engage in a short and focused discussion with the European Commission, the IMF and the European Central Bank on the restructuring of its banking system," said to turn the President of the Eurogroup Jean-Claude Juncker.

"Show our solidarity."

Say that the negotiations started yesterday evening between the Finance Ministers of the euro on the modalities of assistance of the European Union to the Ireland the current fragility concern to European finance a new excitement to the debt crisis... and an effect of contagion to other weak to the periphery of the Union linksPortugal and Spain in mind.

After avoir strongly rejected offers of financial support from the Union on the grounds that his country was of sufficient liquidity until mid-2011, the Prime Minister of Ireland, Brian Cowen, represented yesterday in Brussels by his Finance Minister, Brian Lenihan, eventually admitted, Monday evening, posed a real problem of stability in the euro area banking sector. He acknowledged that "in discussion with its partners on how best to consolidate the banking and financial stability." "Should focus us on the problem of liquidity in the Irish banking sector", explained Didier Reynders, Belgian Minister of finance, upon arrival at the meeting. "He must show our solidarity, keep us ready to intervene at any time that a financial crisis turns again into economic crisis."

The Commissioner in charge of economic and Monetary Affairs, Olli Rehn, acknowledged his side that he has "a very serious problem in the Irish banking sector." "The Commission is working together with the ECB, the IMF and, of course, the Irish authorities to solve it".

Question is how. Because the Ireland wants at all costs avoid not only the humiliation of international support, but especially to pass under the fork admit defeat of the European commission, the ECB and the IMF. Even when not satisfied need funds immediately, Dublin does not want to have to undergo drastic budgetary conditions that support from the European Fund for financial stability to the Irish Government would automatically. The Commission could ask him reforms, such as the rehabilitation of its corporate profits tax at 12.5, the lowest in Europe and is regularly denounced as unfair competition to the other Member States. This is why Dublin indicated that he would prefer that the aid be exclusively destined for banks.

A certain cacophony

According to the Wall Street Journal, two types of aid were on the table last night: the one for the banking system in the amount of 45 to 50 billion euros and a wider support, which could represent between 80 and 100 billion euros, for the Government to restore confidence in the public finances of the country. In both cases, the IMF could contribute up to 50 of the aid. The British Government was called to the rescue, Ministers of the euro area considering that in view of the great exhibition of British banks to the Irish banking system, it is they who benefit the most.

A certain cacophony reigned yesterday in Europe around this new outbreak of fever on sovereign debt. The President of the European Council, Herman van Rompuy, said in a seminar yesterday morning: "the euro is facing a crisis for its survival." Alarmist and out of context comments that did not contribute to calming the atmosphere