Burden sharing essential, says SF

THE EU is still failing to recognise that losses will need to be imposed on senior bondholders in order to resolve the Irish and eurozone debt crises, Sinn Féin has said.

Party finance spokesman Pearse Doherty said it was clear from the statement by eurozone finance ministers that they were focusing on only “half the problem” and running scared of burning senior bondholders.

In the statement, the ministers said they “stand ready” to adopt further measures to resist contagion in the eurozone, including enhancing the flexibility and scope of the EFSF bailout fund, lengthening the maturities of bailout loans and lowering the interest rates.