Ireland to lend up to €500m as part of Greek bailout

IRELAND will lend up to €500 million to Greece in an effort to keep the country’s economy afloat and protect the euro as it faces the biggest crisis in the life of the currency.

There are fears that Ireland’s contribution could have serious implications for our own economy as the crisis facing Greece could push the spotlight back on Ireland, creating serious implications for the cost of borrowing.

The joint eurozone-IMF €46 billion package will be the biggest bailout in history and is likely to be followed by a similar sum in the next year or two.