New government ‘could renegotiate’ rescue package

A LEADING investment analyst says he believes that Ireland should be able to renegotiate aspects of the €85 billion bailout plan under a new government.

He ruled out renegotiating the deal overall but said the length of time over which the loans can be repaid and the interest rate charged to allow Ireland’s budgetary position a better chance to get back on track could be addressed.

Bill O’Neill, chief investment officer Europe, Middle East and Africa with Merrill Lynch, said restructuring was an issue that might have to be addressed if the pressures on the Irish economy become too great.