Irish Face Bond ‘Buyers Strike’ as EU Examines Budget

Ireland will try to win support this week from the European Union to avoid a Greek-style bailout as investors balk at buying the country’s bonds.

EU Economic and Monetary Affairs Commissioner Olli Rehn arrives in Dublin today for a two-day visit after the government laid out a plan last week to cut spending and raise taxes by as much as 6 billion euros ($8.4 billion) in 2011.