Van Rompuy backs lower bailout rate

PRESIDENT of the European Council Herman Van Rompuy said there are “real possibilities” of Ireland getting a lower interest rate on its bailout fund.

Ireland’s economy would turn a corner, he predicted, but there was a “bitter pill” for the people to swallow with budget cuts and austerity measures.

Speaking in Dublin after a meeting with Taoiseach Enda Kenny, Mr Van Rompuy indicated his support for a lowering of Ireland’s interest rate on the bailout.