Gilmore plays down chance of deal on bank debt during presidency

The chances of Ireland achieving a bank debt writedown deal during its six-month presidency of the EU have been played down by Eamon Gilmore.

The Tánaiste insisted the Government has continued to work on such a breakthrough behind the scenes, but could not say by when it would be achieved.

The caution came after Germany hardened its stance against bringing “historic” national bank debts into new financial stability mechanisms.