Hot on the heels of securing an EU/IMF bailout package (estimated at being around Euro 80BN), the Irish government has also been promised approximately £7BN in the form of bilateral aid from the UK.
George Osborne claims that this is because Ireland is our "closest economic neighbour".
Many are asking why the UK needs to put money into Ireland on top of the EU/IMF bailout.
Does this mean that the bailout from the EU/IMF is not going to be enough?
Be that as it may, once Ireland is "sorted" next comes Portugal and Spain.