Kenny denies bailout rate cut already agreed

Kenny denies bailout rate cut already agreed

The Taoiseach Enda Kenny has denied that an interest rate cut for Ireland on the European portion of the bailout deal is already agreed.

It was reported at the weekend that the 1% rate cut was a done deal.

But Mr Kenny said negotiations are ongoing and he hopes they can be finalised by Finance Ministers at a meeting later this month.

It comes as Greece looks set to need a new bailout, as the €110bn rescue package agreed a year ago is not going to be enough.

One ratings agency, Standard and Poors, suggests Greece needs to secure a halving of the interest rates on the funding to make it affordable.

More on this topic

Ming: At least Greece are asking for debt measuresMing: At least Greece are asking for debt measures

Noonan talks tough as he demands ECB attends banking inquiryNoonan talks tough as he demands ECB attends banking inquiry

Draghi: Ireland's bailout decision 'not that stupid'Draghi: Ireland's bailout decision 'not that stupid'

FF: Trichet letters show Government was left with no choiceFF: Trichet letters show Government was left with no choice

More in this Section

Covid-19: One person has died and 11 new cases confirmedCovid-19: One person has died and 11 new cases confirmed

Rare beaked whale trapped in Wicklow Harbour not expected to surviveRare beaked whale trapped in Wicklow Harbour not expected to survive

Five arrested after 'violent disorder' incidents in Co WestmeathFive arrested after 'violent disorder' incidents in Co Westmeath

UUP call for 'independent inquiry' to investigate coronavirus guideline breaches at Bobby Storey funeralUUP call for 'independent inquiry' to investigate coronavirus guideline breaches at Bobby Storey funeral


Lifestyle

Cross rope bridges strung across the Atlantic or visit reimagining of time gone by; whatever you fancy doing, you’ll find it in Ulster.Staycations 2020: Take your pick from these great things to do in Ulster

Peter Dowdall has advice on caring for these perennial favouritesLook after your peonies and they'll brighten your garden

A routine smear test picked up Eileen Rushe's cancer when she was in her early 30s. It was a long road to recovery, says Arlene Harris.In check: Why every woman must get a cervical screening test

And we’re back! Ireland’s tourism and hospitality industry rebooted on Monday, with a ripple of giddy enthusiasm across the country, as byways and motorways whirred with the national great escape.What's a hotel visit like these days? Tom Breathnach checks in

More From The Irish Examiner