The Irish "Problem"

I saw this headline -- "European Union approves €85 billion rescue of Ireland" -- and wondered WHY?

Why must the Irish CITIZENS pay for the sins of the BANKERS? Why must the Irish Citizens pay FOREVER to reimburse the European banks. Those German and other banks run by "the smartest guys in this or any other room" (or so they think).

Here was a nation with minimal public debt, ruined by the bursting of a bubble fed by speculators, builders, a corrupt Government, and greedy European bankers. Why must the typical citizen be held accountable for the mistakes of the "very serious people"?

It really is insane.