Taoiseach to state case on bailout

Taoiseach Enda Kenny is in Brussels today for a summit of EU heads of state with Ireland’s international bailout top of his agenda.

Mr Kenny has made pressing EU partners for an improvement in the terms of the multi-billion EU/IMF loan a key policy plank of his government.

But he is fighting pressure to move on Ireland’s controversially low 12.5% corporation tax rate, with France and Germany leading the charge.

The Government is also awaiting the results of critical stress tests on the state’s banks, expected by the end of the month, to determine if they need more than the €10bn set aside in the international bailout.

The eurozone bailout scheme is expected to dominate the summit with fears heightening that Portugal could become the latest European country to tap into an EU/IMF rescue fund.

The country's parliament yesterday rejected the latest austerity measures, prompting prime minister Jose Socrates to resign.

The crisis in Libya and disaster in Japan are also expected to be discussed.