Government faces weeks of talks to get EU on side

THE Government is facing weeks of delicate negotiations to convince the EU to share the crippling cost of the banks and reduce the interest rate being charged for the bailout loan.

Discussions on easing the cost of Ireland’s bailout was shelved at the EU summit in Brussels as the Portuguese crisis took centre stage.

Portugal moved closer to becoming the third EU state to require a bailout when its government collapsed after failing to push through austerity measures.