Geoghegan-Quinn confident on prospect of bailout interest deal

Ireland's EU Commissioner Maire Geoghegan-Quinn said today that she is confident that the Government will secure a cut in the interest rate on Ireland's bailout loans.

The comment comes after informal discussions took place between Taoiseach Enda Kenny and French President Nicholas Sarkozy in Brussels last night.

Ms Geoghegan-Quinn said the message from the EU summit last night was very strong, and that there is recognition among EU member states that Ireland is taking the tough decisions.

She said she is now confident that Ireland will secure a cheaper bailout.

Commissioner Geoghegan-Quinn also dismissed opposition criticism that the Taoiseach Enda Kenny had taken a hands-off attitude toward Ireland's bailout, saying that he has acted with strength and determination.