Markets, analysts unconvinced by Irish bailout

Irish flag

European markets shuddered on Monday after the Irish government, European Union and IMF unveiled a $112 billion rescue package for Ireland, aimed at protecting the euro and the eurozone amidst mounting worries over its stability.

By 15:15 in London, the benchmark FTSE 100 had shed 1.58%. Frankfurt's DAX index and Paris's CAC also wobbled, dropping 1.96% and 2.18% respectively. The single currency was down 1.21%, trading at $1.3082.

The European Union, Dublin and the IMF inked a deal Sunday on a

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