As return to markets beckons, Kenny wants EU to focus on growth

TAOISEACH Enda Kenny has challenged Europe to shift its focus from budget cutbacks to growth as he said he hoped to return to bond markets next year at the levels charged on the eve of its EU/IMF bailout.

European leaders’ agreement last month to seek tighter budget controls was not sufficient on its own to solve the eurozone debt crisis, Mr Kenny told a Reuters event in London, saying funding certainty must be provided.

As Spain and Italy were securing sharply lower borrowing costs at debt auctions yesterday, Mr Kenny said Ireland hoped to make a “tentative return” to bond markets next year at about 6%.