Historic day as EU/IMF officials arrive ... though Taoiseach still insists they are not here to bail out State

THE country’s entire banking sector and the Government’s budget plans will be scrutinised by officials from the EU and the IMF when they arrive in Dublin this morning on what will be a historic day for the country.

Taoiseach Brian Cowen continues to insist they are not here to bail out the country, but preparations are well under way for when the Government decides to ask for help from the international community.

The banks are facing another overhaul. This time, some could be wound up, while shareholders could suffer further losses, Belgian Finance Minister Didier Reynders, who chaired yesterday’s EU meeting, said.