Germany warns Ireland seeking Greek deal would be ‘disastrous’

Germany last night warned Ireland that looking for lower interest rates and longer maturity on its bailout, similar to the deal for Greece, would be “disastrous”.

Ireland and Portugal drew up battle lines to fight for better conditions on their bailout loans but Germany and France tried to dissuade them, warning that they should try to avoid looking like Greece.

Finance Minister Michael Noonan said that he would pursue the concessions given to Greece last week when the country is exiting the programme next year.