Coveney confident about negotiations on bailout loans

The Minister for Agriculture said he is confident that negotiations on extending the maturities on Ireland's bailout loans are moving in the right direction.

It follows a recommendation from the Troika that the amount of time Ireland has to repay its EU loans be extended by seven years.

The issue will be discussed at the ECOFIN meeting of EU Finance Ministers in Dublin this weekend, but no binding decision will be made.

Simon Coveney said that a deal would be a positive step for Ireland - and as the Finance Minister Michael Noonan is the Chair of ECOFIN, he is in a good position to lead the talks.

"Michael needs to work with his colleagues because any decisions that are taken obviously set a precedent," he said

"This isn't just about Ireland, it is about every European country, so let's wait and see what happens but I am confident that things are moving in the right direction."