Expected loan debt amid the Irish crisis visit
Dublin, Ireland (CNN) -- Officials from the International Monetary Fund and European Central Bank were in Ireland on Thursday to examine the country's debt crisis -- a visit that could result in a substantial loan, the head of the Irish Central Bank said. The bank's governor, Patrick Honohan, told state broadcaster RTE the negotiations with the IMF and European officials were not about a bailout, but would lead to a loan of tens of billions of euros to Ireland. He said that loan would be something the Irish government would have to accept. "The intention is and the expectation is, on their part and personally on my part, that negotiations or discussions will be effective and a loan will be made available and drawn down as necessary," Honohan told RTE. The money would go directly into Irish banks to shore up investor confidence, he added. The banks, many of which have been nationalized, are unable to loan to other banks. One analyst said Ireland has no choice ...
