Rabbitte: Spanish deal would aid Ireland

Ireland would be in a very strong position to get a better deal on the cost of the bailout and reduce the country’s deficit if Spain succeeds in getting a special arrangement for its banks, Communications Minister Pat Rabbitte has said.

He said the Government would move very quickly in the event of such a deal.

Mr Rabbitte’s comments were more positive than those of Tánaiste Eamon Gilmore, who told the Dáil a Spanish solution “may not be translatable to Ireland”.