Just a matter of time: Ireland is in preliminary talks with the EU to obtain a loan between 60 - 80 BB Euros

Ireland is in talk with the EU to shore up its country's finances.  They could be the next to follow Greece down the extend and pretend pipeline.  Having said that I have more faith in Ireland to fix their debt situation than Greece.  The politics of Greece make it very difficult politically to make cuts.  The leftist unions seem to protest, at times violently. 

The yield on the 10-year Irish bond hit 8.64 per cent in afternoon trading after starting the day at 7.94 per cent. The cost of borrrowing of almost 9% make the debt burden almost unbearable, hence the need for low interest loans.  Via BBC:
It is now no longer a matter of whether but when the Irish government formally approaches the European Financial Stability Fund (EFSF) for a bailout, correspondents say.

The provisional estimate for EFSF loans is believed to lie between 60bn and 80bn euros ($82-110bn; £51-68bn).
More

Irish bank stocks sink as investors lose confidence in Irish Banks
Irelands austerity act is beginning to wear thin

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