HOME | |

Taoiseach says extension to bailout deal may be some time away

Extending Irish EU loans could save billions of euro

newstalk.ie image
Author image
Louise Kelly
10:40 Tuesday 5 March 2013

The Taoiseach Enda Kenny says he is hopeful that a deal to reduce the Irish bailout repayments can be reached but it may be some way off yet.

Agreement on extending the maturities on Ireland European Union loans has been reached in principal and will be discussed at a meeting of EU Finance Ministers today, It will be chaired by the Finance Minister Michael Noonan.

A deal on extending EU loans received by both Ireland and Portugal will be on the agenda.

Entended from 12 to 15 years

The proposals would see the length of time Ireland has to repay its debt extended from 12 years for most of the loans to 15 years. This would see a saving billions of euro and taking some of the pressure for harsh budgets off the government.

It is understood the International Monetary Fund (IMF) will not be extend the maturities on its part of the bailout.

Speaking on his way into Government Buildings this morning the Taoiseach said a deal would be good news for the Irish taxpayer.

But he said it may be next month before agreement is reached.

comments powered by Disqus
  • newstalk.ie image

    Ireland abstains from UN vote to set up human rights inquiry in Gaza

    newstalk.ie image

    This Australian newspaper really doesn't like Rory McIlroy

    newstalk.ie image

    Twitter in meltdown over the cost of pints in Temple Bar

    newstalk.ie image

    Is this Ireland's strangest charity event?

    newstalk.ie image

    Children's dictionary accidentally includes a very disturbing...

    newstalk.ie image

    44 year-old man's visit to the doctor reveals that he is female

    newstalk.ie image

    This is why Rory McIlroy refused to sign a child's autograph...

    newstalk.ie image

    Peaches Geldof was addicted to heroin, inquest hears

    newstalk.ie image

    MH17 victims' bodies arrive in The Netherlands

    newstalk.ie image

    Reserve officer suspended for making video about running down...

  • newstalk.ie image

    Ireland abstains from UN vote to set up human rights inquiry in Gaza

    newstalk.ie image

    Stray dog found carrying around her smaller, injured friend in mouth

    newstalk.ie image

    British MP wants theft of items in online video games criminalised

    newstalk.ie image

    Children's dictionary accidentally includes a very disturbing...

    newstalk.ie image

    MH17 victims' bodies arrive in The Netherlands

    newstalk.ie image

    Husband fined €700 for spiking his wife's drink

    newstalk.ie image

    Woman lets God take the wheel... and immediately runs over...

    newstalk.ie image

    Coming to you live from the City of the Tribes...

    newstalk.ie image

    Peaches Geldof was addicted to heroin, inquest hears

    newstalk.ie image

    Young couple get police caution for sexting