Portrait of the week | 27 November 2010
Britain is to lend Ireland up to £9 billion. Home Britain is to lend Ireland up to £9 billion. ‘Ireland is a friend in need,’ George Osborne, the Chancellor of the Exchequer told the House of Commons, ‘and it is in our national interest that we should be prepared to help them at this difficult time.’ British loans could be made via three routes: bilaterally through the European Union; through an agreement under the European Financial Stabilisation Mechanism; and through the International Monetary Fund.