A number of governments in Europe from 2009 onward, including Ireland, faced loan defaults as they could not repay the interest on their loans, and required assistance from the European Union and the International Monetary Fund. Which of the following istrueof the situation facing Ireland at that time? Select one: A.The Irish government had previously increased public sector wages and lowered tax rates. B.By 2010, the budget deficit was over 30% of Ireland's GDP. C.The Irish government took on huge debts to bail out failing banks. D.All of these options are correct.