Rehn backs Government bid for lower bailout rate

EU COMMISSIONER Olli Rehn has said Ireland should get a lower interest rate for its bailout as well as measures to lengthen the terms of the loans.

The support for the Government’s bid to get better terms for the €65 billion in EU/IMF rescue loans comes ahead of an emergency summit of eurozone leaders later this week.

The European economic commissioner said Ireland was unlikely to return to the markets soon to borrow.