In 2010, Ireland’s financial crisis threatened the stability of the global financial system, precipitating an international rescue package of 85 billion euro. This article analyses the bailout from an international relations perspective in order to gain a deeper insight into the nature of the political pressures that forced the negotiators to compromise over the design and content of Ireland’s programme of financial support. It does so by drawing on recent academic research on the politics of IMF decision-making. The lessons from this literature can help to shed light on one of the most important events in post-Independence Ireland.