The public finances of Ireland will, for the next three years at least, be subject to “regular reviews” by external monitors working on behalf of the International Monetary Fund (IMF), the European Union (EU) and the British and Swedish governments.
On November 21, the Taoiseach (Prime Minister) Brian Cowen and minister for finance Brian Lenihan, after a week of shocking lies and deceit, said they would accept the IMF/EU bailout.
It later emerged that the G7, made up of the seven most powerful countries in the world, had met to give its approval to the deal.