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Debt-crippled Ireland formally applied Sunday for a massive EU-IMF loan to stem the flight of capital from its banks, joining Greece in a step unthinkable only a few years ago when Ireland was a booming Celtic Tiger and the economic envy of Europe.
An Irish public that has quietly endured harsh cuts so far may finally run out of patience and take to the streets when the deeply unpopular government unveils its next austerity measures, labor unions said on Saturday.
The ultimate size will depend on whether Dublin merely tries to shore up and restructure its crippled banks, or whether a larger package is offered to give it more breathing room.
Wall Street tumbled Tuesday, with the Dow down over 200 points, following new worries about rising inflation in Asia and the possibility Ireland might need a bailout.
Senh: In the U.S., we bailout banks. In Europe, they bailout countries.