Tough tasks ahead for the cabinet

Europe Correspondent Ann Cahill looks at the busy ‘to do’ lists of the new ministers which are imbued with the responsibility of IMF-EU conditions.

TAOISEACH: Just two weeks to ensure a better deal on the EU loan is on the cards. He will need a commitment to cut the interest rate and will look for a longer period over which to repay part of the loan. He will also argue to have the bailout fund available for countries to buy back their debt on the markets at much cheaper rates. Getting a better deal generally will be a continuous negotiating process as the agreement is reviewed every three months.

If the situation deteriorates, and the country faces a sovereign default with its banks gone bust, he will need to get his fellow EU leaders to understand the situation Ireland finds itself in and help address the problems and restore Ireland’s reputation as an EU-player.