“Ireland might need EU money in mid 2011”- analyst

Even though Ireland says that it does not need any help from its EU neighbors, the picture might change in the near future, believes Fredrik Erixon from the European Center for International Political Economy.

“Ireland is saying right now that it does not need the money,” he said. “It is correct in a sense that it does not have a liquidity problem right now, but that is only for now, and we are probably going to see a different picture that is going to emerge the sooner we get to July 1 next year.”

Following the EU financial ministers’ meeting in Brussels on Wednesday, British Chancellor George Osborne announced that Britain is ready to help its debt-struck neighbor.

Eurozone ministers earlier agreed to send to Ireland a group of EU and IMF officials to prepare for a possible bailout for the country’s banks.

Trend forecaster Gerald Celente says the financial challenges the EU is currently facing could have implications far beyond the economy.

What we are seeing the beginning of [are] currency wars and trade wars. And when you equal trade wars plus currency wars, you start looking at real wars,” Celente said. “It’s happened before and it’s unfolding in front of us again.”


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