EC debt-burden proposals 'could save Ireland billions'

Ireland is set to save billions of euro on the repayments it makes on its bailout loans from Europe.

EC debt-burden proposals 'could save Ireland billions'
Wed, 14 Sep, 2011 - 15:06

Ireland is set to save billions of euro on the repayments it makes on its bailout loans from Europe.

The European Commission is proposing that the yield on the rate it charges for loans under the European Financial Stability Mechanism - or EFSM - be cut from 2.9% to zero.

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