Noonan to push for progress on Irish bank debt

on 09/10/2012 07:39:45

EU finance ministers meet in Luxembourg today, where it is expected that Michael Noonan will make a further push for progress on Ireland's bank debt.

The issue of plans for a European Financial Transactions tax is also expected to be on the agenda, something Minister Noonan is likely to oppose, despite pressure from other EU states and representations were made by the large banks at the IFSC in Dublin.

They claim that Ireland would be at a competitive disadvantage by agreeing to a financial transactions tax, because of the fact that banks in neighbouring Britain would not be subject to the same rules.

Germany and France want the tax and ministers will today discuss its feasibility.