EU leaders differ on credit line for Ireland

EU leaders are divided over whether Ireland should seek a precautionary credit line, Taoiseach Enda Kenny admitted after speaking to his colleagues on the margins of the EU summit.

Every country would need to agree to Ireland getting the type of overdraft facility from the EU’s bailout fund, the ESM and so each member state has a veto.

The Taoiseach emphasised that no decision had been made by the Government yet on whether to ask for this type of overdraft facility from the EU’s rescue fund, the ESM.