Gilmore: We will achieve bailout interest rate cut

TÁNAISTE Eamon Gilmore insisted the Government is determined to achieve a cut in the interest rate on Ireland’s crippling bailout costs at an upcoming meeting of EU finance ministers.

But the Labour leader refused to say when the reduction in the 5.8% rate could be achieved.

“We are determined to get the reduction in the interest rate. We believe that Ireland should get that reduction. It is important we get it to help the effort we are making to bring about recovery and we are confident we will achieve it,” he said.