Topic: Stephen Kinsella
The Irish government says a $112.5 billion bailout will come with a 5.8 percent interest rate. The public appears unhappy with the bailout, but uncertain where to direct its anger.
An Ireland bailout is possible after government bonds tumbled in recent weeks. The country is under pressure to accept a $100 billion bailout that could prove a bitter pill for the former 'Celtic Tiger.'
Ireland has instituted dramatic spending cuts and tax hikes to avoid becoming the 'next Greece.' Dublin may offer a window into where other European countries are headed towards austerity.
Many in Ireland are stunned that the once high-flying 'Celtic Tiger' is now just another battered economy – and by fresh revelations of coverups of sexual abuse of children in the Roman Catholic church as Pope Benedict XVI apologized directly to Irish abuse victims.