But Allan Timmermann , who holds an endowed chair of finance at the University of California San Diego , says a bailout will make life easier for ordinary folks because the aid might lessen the severity of service cuts the government will need to make . Europe and IMF announced 100 billion euro bailout for Ireland 's banking sector . Irish PM announced swingeing four - year austerity plan . No change to Ireland 's low income rate of 12.5 % . Media express anger of Irish government over shape it is in ; it is unpopular .
Europe and IMF announced 100 billion euro bailout for Ireland 's banking sector . Irish PM announced swingeing four - year austerity plan . No change to Ireland 's low income rate of 12.5 % . Media express anger of Irish government over shape it is in ; it is unpopular .