Guarded welcome for deal on examining payback time

A deal to examine the payback period for Ireland’s bailout loans was described as a “small step” in the overall aim of returning to borrowing on the private markets.

Both Fianna Fáil and Sinn Féin said the real issue was not changing the bailout payments but measures to ease the bank debt burden on the Irish people.

Opposition TDs gave a guarded welcome to the agreement by 27 EU finance ministers to examine the possibility of extending the maturities, or payback time, for two sources of Ireland’s bailout loan — the EFSM and the EFSF.