Britain assists ‘friend in need’

IT is overwhelmingly in Britain’s national interest for Ireland to have a stable economy and banking system, British Chancellor George Osborne said yesterday.

Updating MPs on British involvement in the international bailout of the Irish economy, Mr Osborne said the country was a major trading partner with a banking sector “interconnected” with Britain’s.

Britain’s total contribution to the support package is thought to be around €8.2bn but in a statement to the Commons, Mr Osborne said it was right to help a “friend in need”.