“Very substantial loan” expected by Central Bank governor

Irish Central Bank governor Patrick Honohan has said he expects an EU-backed bailout for Ireland’s economic crisis.

Mr Honohan was speaking to RTE radio as a team of officials was due to arrive in Ireland for further talks on the debt crisis.

Representatives from the International Monetary Fund, the European Central Bank and the EU will take part.

Mr Honohan said that he anticipates a “very substantial loan” to get us out of the mire.