EU deal set to postpone our €40bn bailout debt for 15 years

(05 Mar 2013)

eu logo Thumbnail0It is reported in todays Irish Independent that a new deal on Ireland's multi-billion euro debt to the European Union could be struck as soon as today – reducing the pressure for harsh budgets in the years ahead.

European finance ministers will decide today whether to allow Ireland to delay repayment of the money loaned to the country under the bailout by as much as 15 years.

Government sources are cautiously optimistic on the proposal, saying progress has been made but there were "no final decisions yet".

Eurozone finance ministers will consider extending the repayment schedule of the EU rescue loans to both Ireland and Portugal.

Please read full report in Irish Independent

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