11/14/2010 11:01 am ET Updated May 25, 2011

Simon Johnson Warns Ireland: Seek IMF Bailout Or Risk Bankruptcy

"For the sake of the Irish people, it's time to go to the IMF. If you go in now and if you go in with your partners, you will get a good deal. You may not get such a good deal next week. It would have been a much better deal if they'd gone in February because Ireland wouldn't have had to go through all this discretionary tightening along the route."

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