Rehn does not rule out cut in bailout interest rates

IRELAND was given the clearest indication yet that the interest rates on its bailout would be cut and that the details of the austerity package could be changed.

The EU’s Economics Commissioner Olli Rehn said, however, that while he supported a cut in the interest rate, it would not be negotiated now with Irish politicians.

He made clear it would come about as a result of negotiations under way between the member states on changes to the EU’s rescue package.