EU summit finishes without resolution on bailout fund

It will be left to Eurozone finance ministers to deal with the Irish bailout deal and the sought-for reduction in the State's interest rate.

It will be left to Eurozone finance ministers to deal with the Irish bailout deal and the sought-for reduction in the State's interest rate.

The summit of EU leaders has now ended, and more than the Irish issue has been left hanging.

Plans to increase the temporary bailout fund aimed at shoring up the Euro are also now on hold, until June.

However, leaders did approve tough new rules which will effectively force member States to subject their budgets to increased scrutiny and oversight.

Taoiseach Enda Kenny said questions about the cost of the Irish bailout would be resolved by Finance Minister Michael Noonan and his colleagues, once the cost of banking bailout is made known.

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