European ministers have reached an agreement over a bailout for the Irish Republic worth about 85bn Euros.

The deal will see 35bn Euros go towards supporting the Irish banking system with the remaining 50bn Euros to help the government's day-to-day spending.

Tony Creszenzi, portfolio manager at PIMCO group and Brian Hayes, public expenditure spokesman for Fianna Gael, discuss the impact of the deal.

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