EU gives go-ahead for Irish payment

Brussels: The European Union said yesterday it had given the go-ahead for payment of the next instalments of financial aid to Ireland and Portugal.

The European Council, which represents member governments, said the next instalments would total €7.5 billion for Ireland and €11.5bn for Portugal.

The approval had been expected after positive reviews by the European Commission, European Central Bank and IMF, which yesterday approved a $2.11bn disbursement.