Noonan secures support for new borrowing plan

Finance Minister Michael Noonan has this afternoon secured the support of all Eurozone Finance Ministers for a deal that would see Ireland borrowing at lower interest rates to pay off more than €18bn.

The Government says that repay our IMF bailout loans early could save the taxpayer hundreds of millions of euro.

Michael Noonan's European engagement this week pays handsome dividend for Ireland.

— Charlie Flanagan (@CharlieFlanagan) September 12, 2014

The proposal is to be discussed at a meeting of all 28 EU Finance Ministers tomorrow.

Taoiseach Enda Kenny does not anticipate any problems at the meeting, however.

"There isn't any objection to this from a political perspective and we expect that tomorrow," he said.

"The elections in Sweden are on Sunday, and obviously they can't give a decision, but there is not expected to be any difficulty or any obstruction … and then it's a matter just for national procedures.

"So that will probably allow first movement here sometime before Christmas."