What are the cost estimates for bailing out Old Man Europe?

Irelands bailout will likely cost roughly 60% of GDP.  If the rest of Old Man Europe has to get bailed out in the same magnitude, the costs for the bailout would bankrupt Europe.  If and all the PIGS plus Italy went under, the cost would be over 2.3 TT dollars, via Bloomberg:

Estimated cost of bailing out Ireland:  95 BB Euros  - $130 BB dollars
Estimated cost of bailing out Portugal:   100 BB Euros - 136 BB dollars
Estimated cost of bailing out Spain:  632 BB Euros - 865 BB dollars
Estimated cost of bailing out Italy:  912 BB Euros - 1.25 TT dollars

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