Taoiseach says extension to bailout deal may be some time away - Newstalk

Taoiseach says extension to bailout deal may be some time away

Extending Irish EU loans could save billions of euro

Taoiseach says extension to bailout deal may be some time away
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.com image

    Lingerie billboards to be removed after proving too distracting

    newstalk.com image

    Ten HSE staff placed "off duty" from Tipperary disability...

    newstalk.com image

    Bebo is back... and so are your old photos

    newstalk.com image

    €600,000 worth of fake 'Frozen' toys seized at Dublin Port

    newstalk.com image

    VIDEO: Is this the worst answer ever given on Who Wants to Be a...

    newstalk.com image

    Russell Brand publishes response to bank worker's...

    newstalk.com image

    "Beware of what information you put out on social media"...

    newstalk.com image

    Eight children are found stabbed to death in Australia

    newstalk.com image

    New Zealand police apologise for assuming sideways kayak driver was...

    newstalk.com image

    Irish people will drink more tonight than any other night of the...

  • newstalk.com image

    Van Gaal vexed by Valdes speculation

    newstalk.com image

    Blatter rules out a re-vote for World Cups

    newstalk.com image

    Munster make eight changes for war with Warriors

    newstalk.com image

    Doak tweaks Ulster line-up for Ospreys

    newstalk.com image

    O'Leary calls time on his Laois career

    newstalk.com image

    Will Wenger or Rodgers' face be redder than Rudolph's nose...

    newstalk.com image

    Wenger sweating over trio for trip to Anfield

    newstalk.com image

    How can Liverpool get a Sterling result at home to Arsenal?

    newstalk.com image

    Mannion confident Connacht can raid the RDS

    newstalk.com image

    Why Real Madrid's Club World Cup win is especially significant