1% reduction on bailout rate already agreed, says Noonan
Finance Minister Michael Noonan told the Dáil today that a 1% cut in the interest rate has effectively been agreed and it is now just a case of waiting a "few weeks" for it to be applied.
"It’s actually agreed by the 27 [EU member states] that there'll be a 1% reduction, and then we have the interventions of what quid pro quo Ireland will give, but there’s actually no quid pro quo written into the communiqué," said Minister Noonan.
