"However, with European banks dangerously undercapitalised, European leaders feared that a default by the Irish banks could trigger a Europe-wide banking crisis."
This quote from the BBC News article is the essence of what is going on. This "bailout" has damn all to to do with helping Ireland and is all to to do with saving the necks of the big European banks.
It's shocking to think that a bogman like Healy-Rae (among others) has the say to send this country into EU asset stripping and debt slavery next Wednesday, and I would hazard a guess that a big percentage of the adult population do not even know that such a vote is happening.