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Irish Prime Minister Brian Cowen announced rescue package in Dublin.?Photo: REUTERS

How the package help financial €85bn will be spent:

-€ with go immediately to the Ireland banks in order to increase the amount of capital they hold

-€ will be used will be available on an "urgent basis" in the banking system

-50 billion € will go to the Government to cover its budgetary needs to ensure that the country will not be bankrupt by the size of its budgetary deficit

Where the money will come:

-€17. 5bn (half the banks take silver support) will be paid for by Ireland itself, a buffer of the Treasury cash and investments of the national pensions reserve fund

-Le. 67 €5bn remaining shall be paid for three equal shares of $22. 5bn by:

European financial stabilization mechanism created by members of the euro area earlier this year to allow the EU to borrow money to grant financial assistance to Member States

European installation of financial stability, a Fund of €750bn implemented by 16 countries use the euro in may; accompanied by United Kingdom, Sweden and Denmark loans.

The IMF

That Great Britain will help:

-8bn 3 euros of loans

-Another billion €3 bailout EU funding

When the money will be paid:

-L' funding is for a period of three years, but with € will be given to the Bank immediately

Why the bailout is granted:

"Providing a loan in Ireland is justified to preserve financial stability in the euro area and EU as a whole," said a statement by the EU Finance Ministers.

-Ireland had a deficit of approximately 14 3pc GDP last year, which the European Union wants to see up to the limit of 3pc.

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