Irish Finance Minister Lenihan Admits Country's Banks Need Bailout

Irish Finance Minister Lenihan Admits Country's Banks Need Bailout: "Minister for Finance Brian Lenihan has all but admitted that Ireland will ultimately accept a bailout from the International Monetary Fund and European Central Bank – saying the banking sector needed external assistance in order to stay in operation.
Speaking on RTÉ’s Six One News this evening, Lenihan said Ireland faced a massive difficulty because “the banks grew to such a size that they became unmanageable for the state itself. That’s why we have to consider external assistance to stabilise our banking system. And we do have to.
“We have to find a resolution to our banking difficulties, with whatever external assistance is appropriate,” the minister said."