Tipping point global: IMF bailouts situation “threatening the stability of the entire eurozone”

A look at a potentially volatile situation, from Dateline Zero …

Protesters break through front gate of PM’s office…

Who will we have to bail out next? Britain pays out as Ireland implodes

■ Chancellor George Osborne faced dissent from his own back benches as he insisted loans and guarantees of up to £10billion to Ireland were simply helping a ‘friend in need’.
■ Banking shares crashed.
■ The euro sank as the bailout failed to ease fears about the debt contagion.
■ Demonstrators took to the streets of Dublin and Ireland’s coalition government appeared to be imploding.

Britain is in danger of being sucked into yet more multi-billion-pound EU rescue packages as the Irish bailout threatens to spiral out of control. Under the terms of a deal signed by Alistair Darling after Labour lost the May election, the UK can be required to offer guarantees to other EU countries until 2013.

So if the chaos continues to spread through Europe, we could have to bankroll other “basket-case” economies such as Portugal and even Spain.
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Experts warned that the joint European and International Monetary Fund bailout package might have to be postponed, threatening the stability of the entire eurozone, after a snap general election was called in Ireland.

Prime minister Brian Cowen, who at one stage had appeared on the brink of quitting, was instead forced to announce a poll early next year after his Green Party coalition partners effectively pulled the plug on the government.
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In Dublin, police had to eject a number of protesters, some from Sinn Féin, who forced their way into government buildings.

In Westminster, Mr Osborne told MPs it was “overwhelmingly in Britain’s national interest” to support a major trading partner with which it had an ‘interconnected’ banking system. “Ireland is a friend in need and we are here to help,” the Chancellor declared.

Rescue Would Dwarf Greek Bailout…

Portugal on the brink…

Spain Will Be ‘the Biggie’…

IMF faces questions over Irish bailout…