Austrian finance minister calls for 'give and take' from Ireland

The Austrian finance minister has today stated that Ireland must "give" before it can receive better terms on its bailout package.

Josef Proell has told reporters in Brussels today that "If Ireland wants concessions, it has to do something for it".

Ireland's Finance Minister Micheal Noonan is involved in a second day of meetings with his European counterparts as pressure persists for us to raise our corporate tax rate in return for better terms.

Austria's Minister Proell is pointing to Greece, which generated €50bn from privatisations for an extension of its loans, added that it is a case of "give and take".