Kenny: Burning of bond holders off table

TAOISEACH-in-waiting Enda Kenny has conceded that his government is unlikely to burn senior bondholders in the banks, despite Fine Gael’s pre-election promises.

With the EU and ECB opposing any such move, Mr Kenny said yesterday he hoped to cut the cost of the EU-IMF bailout to taxpayers in some other way.

He indicated that this could be by extending the terms of the bailout loans and a reduction in the interest charged on them.