Al-Hijjah 1431 H. / 21 November 2010, SPA -- European finance ministers responded positively this night to Ireland's request for help under the European Financial Stability Facility (EFSF), a temporary budget safety net, to salvage its banking system which faces a financial crisis. During a conference on the phone, the ministers gave their approval in principle to enable Dublin to benefit from the international plan that stated resorting to a mechanism of loans to be guaranteed by the Monetary Union countries and other loans from the International Monetary Fund and those sponsored by the European Union budget. Such a mechanism could be replenished by bilateral loans from Britain and Sweden, two non-Euro-zone countries, to the interest of Ireland.
