Gormley: EU/IMF deal cannot be renegotiated

Green Party Leader John Gormley has today dismissed claims that the EU/IMF bailout can be renegotiated by the next Government.

Mr Gormley criticised what he described as the "simplistic" claim by Labour leader Eamon Gilmore that the rescue fund can be rewritten to burn the bondholders and lower the bailout interest rate.

Mr Gormley said that experience tells him that kind of approach "will not wash" in Brussels.

"I have attended these ministerial council meetings, I know what’s involved - I’ve got that experience," he said.

"The only way you’re going to solve this is through multi-lateral engagement. It’s not going to be easy."