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Monday 22 November 2010

Sarah McDermott | 10:29 UK time, Monday, 22 November 2010

Ireland is to hold a general election within two months after the Green Party today issued a new year deadline for the vote. Less than 24 hours after a multi-billion bailout was signed, the Taoiseach has landed in a political crisis to match the country's economic woes.

The UK has offered a direct loan of around £7bn to the Irish Republic in addition to contributing to an international rescue package. Tonight Paul Mason will be asking if the Irish bail-out will work and if it will halt the threat of contagion.

Then Michael Crick will be considering how serious the dissent in the Labour Party is and what Ed Miliband needs to do as leader. We hope to be joined by the chair of the Labour Party policy review, Shadow Cabinet member Peter Hain.

And Stephen Smith will be meeting Gary Trudeau, creator of the satirical comic strip, Doonesbury, which this year celebrated its 40th anniversary.

Join Jeremy at 10.30pm on BBC Two.

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From earlier:
European shares and the euro have both risen slightly in value, as markets gave a muted welcome to the bail-out for the Irish Republic.

Our Economics editor Paul Mason is in Dublin today as Ireland begins the formal process of applying for up to 90bn euros (£77bn; $124bn) of European Union-led loans agreed on Sunday.

Tonight he will be considering if the Irish bail-out will work and if it will stop the threat of contagion. He'll also be examining the detail and finding out if there's any resistance to the deal.

More later.

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