UK offers Ireland seven billion pounds in aid
Britain is to provide Ireland with a direct loan - estimated at around seven billion pounds.
It comes as the Irish government prepares to start the formal process of applying for tens of billions of pounds worth of loans, in order to prevent the collapse of the republic's banking system.
Speaking to reporters the Chancellor George Osborne said Britain is offering the loan because it needs to be a 'good neighbour' to Ireland.
- BBC News