As part of the Irish bailout deal, the country will get an extra year to bring its budget deficit to within 3% of GDP. That is based on 2011 being a year of very slow growth.

  • the blended interest rate on the package will be around 5.8%
  • EUR 35 bln can be drawn down to support the banking system
  • EUR 10 bln will be used to immediately recapitalize the banks
  • EUR 25 bln will be in a contingency fund
  • Ireland will no longer contribute to the Greek rescue.