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In 2010, the IMF, along with the European Union, provided assistance to the government of Greece...

In 2010, the IMF, along with the European Union, provided assistance to the government of Greece to prevent a default on government debt and allow time for the government to address fiscal problems. The same year, in order to support financial stability, the IMF, along with the European Union, provided assistance to Ireland to prevent Ireland’s largest banks from becoming insolvent and collapsing. Explain how the two assistance programs are different, and why the program for Ireland represents a new type of lending for the IMF.

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