Government to use cash pile to avoid record borrowing rates - Irish, Business - Independent.ieFinance Minister Brian Lenihan will use a €20bn cash pile to stave off a Greek-style rescue, as the Government taps the funds to avoid paying record rates to borrow.
The article does NOT say where the money came from. Has the pension fund now been spent? I was not aware the government had an extra 20 Billion Euro laying about.
Also Lenihan is to go to America to seek investment in Ireland.