Mitchell: Rehn supports reducing Ireland's bailout interest rate

The EU commissioner for Economic and Monetary Affairs Olli Rehn has warned against complacency about reducing debt.

In an address to the European Parliament's Economic and Monetary Affairs Committee last night, he stressed that economic governance in Europe requires "one strong model and not many parallel ones".

The Fine Gael MEP Gay Mitchell, who was at the meeting, has said he believes Mr Rehn supports reducing Ireland's bailout interest rate.