FF: German statement does little to progress bank debt deal hopes

on 20/10/2012 17:49:51

Fianna Fáil says the latest comments from the German government do little to progress hopes of a deal on Ireland's bank debt.

In a statement, the Germans promised "to work closely with Ireland to improve the sustainability of the programme and ensure its successful outcome."

The Taoiseach said it reaffirmed their commitment to ease our debt burden in the wake of Chancellor Angela Merkel's comments to the contrary.

Yet Fianna Fáil's spokesperson on finance Michael McGrath believes the comments leave us none the wiser on a possible deal.

"Well the statement from the German government was so broad and of such a general nature, it's really difficult to read anything into it. It completely ignores the key issue, which is Angela Merkel's statement on Friday. It would have been much more useful if the German government clarified that issue today.

"It would have reassured us that a deal on bank debt is indeed achievable in the short-term for Ireland."