Irish parliament approves EU/IMF bailout

DUBLIN: Ireland's parliament voted by 81 to 75 to approve an 85-billion-euro (113-billion-dollar) EU-IMF bailout on Wednesday after finance minister Brian Lenihan said it was the only basis for recovery.

"It is the only realistic basis for our path to recovery," Lenihan said in a two-hour debate in the Dail on the memorandum of understanding with the European Union and the International Monetary Fund.

He also dismissed suggestions by opposition parties that major parts of the bailout package such as the 5.8 per cent interest rate could be re-negotiated by a new government after a general election expected next year.