Banks and Troubling Nations

Many countries over seas have been holding on but not staying afloat due to the debt crisis that has spread across the globe. We have seen so many banks bailout countries and now Ireland is no exception.

After falling into a financial crisis brought on by mounting losses at three of its nationalized banks, Ireland formally requested help from its neighbors Sunday. The rescue package from the European Union and the International Monetary Fund will likely total $100 billion.

The request helped push stocks higher in Europe. The Euro Stoxx 50, an index of blue chip companies in countries that use the euro, gained 0.1 percent in early trading.

Major Market Indices

This is the second time that the European Union has come to the rescue of one of its 16 members. In May, the EU and the IMF committed $140 billion to Greece in order to prevent the country from defaulting on its debt.