Seven days that changed our world

How the realisation grew, in the outside world, among the public at home and finally in the government, that a bailout was inevitable, writes Pat Leahy

20th November, 2010

It became clear last weekend that the prospect of outside intervention in Ireland’s ailing economy and banking system was becoming inevitable.

For months, the prospect of the IMF had been bandied about in political debate as a sort of bogeyman, waved around in budget discussions as a justification for harsh budget cuts expected in December.

We have to make these cuts, ministers argued, otherwise the IMF will be in. Few in government believed...

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