Taoiseach clarifies 6% bailout cost

TAOISEACH Brian Cowen has confirmed a bailout in the region of €85 billion has been “discussed” with the EU and IMF.

He also appeared last night to suggest Ireland could be charged a 6% rate of interest for any portion of the money used. But his spokesman subsequently said Mr Cowen had not been talking about the bailout when he mentioned the 6% figure.

Fine Gael and Labour demanded details of the bailout figures in the Dáil yesterday morning.