Bailout talks start in crisis-hit Ireland

AFP: Bailout talks start in crisis-hit Ireland: "International financial experts and Irish officials began tough negotiations on Friday on a possible bailout for a debt-ridden economy at the heart of fears about the future of the eurozone.
Reports said the talks would focus on shoring up the crisis-hit banks and, in an indication that a deal was edging closer, the euro rose against the dollar.
The mission from the European Union, the European Central Bank and the International Monetary Fund will subject Ireland's books to forensic analysis, looking at the reasons for the collapse of the one-time 'Celtic Tiger' economy.
The Irish press focused on fears that a bailout that would lead to a loss of sovereignty for this country of 4.5 million people.
The Irish Daily Mail said it was about to be 'humiliated', while the Irish Times said the nation's destiny was no longer in its own hands as the EU pushed one of the smaller members of the 16-country eurozone to accept support.
The 'potentially enormous decisions' to be taken in the days ahead would have effects that will be 'felt far into the future', the newspaper said.
Prime Minister Brian Cowen's government is determined that any deal will not require compromise on Ireland's long-cherished 12.5-percent rate of corporation tax, which has helped it to encourage companies to re-locate to the republic."