‘No link’ between €1.5bn IMF deal and bank debt moves

Ministers have denied the Government has been "bought off" by Brussels with a €1.5bn debt deal so it will abandon a bid to get a recapitalisation on the €60bn bank bailout.

Plans approved by eurozone finance ministers to allow Ireland to repay IMF loans early could save the country €300m a year for the next five years, but Finance Department Minister of State Simon Harris insisted there was no linkage between the breakthrough and moves on the bank debt.

“No, it’s important to note that this is all multi-faceted and about looking at different ways we can limit the debt burden on the Irish taxpayer rather than being overly prescriptive.