Taoiseach urges EU to lighten €64bn debt

Taoiseach Enda Kenny has warned that December’s budget would be the harshest so far but, regardless of cutbacks, the country needs the EU to deliver on a promise to help lighten the massive €64bn bank debt.

Mr Kenny joined forces with the Italian and Spanish leaders to push Germany to agree to a single banking supervisor for the eurozone — essential if Ireland is to cut the cost of part of the debt.

Mr Kenny conceded that he will not get a deal as hoped next month. A stumbling block is the interest holiday on the €32bn Anglo promissory note, he said.