Ireland’s share in Greek loan €450m

IRELAND will stump up €450 million of a total €30bn loan offered to Greece by the finance ministers of 16 European countries over the weekend.

Greece has been offered the financial lifeline because it has some €54bn in debt coming due this year as well as a huge budget deficit.

It has to find almost €11.5bn by next month to meet its financial obligations and its total debt stands at nearly €300bn.