Kenny: Proposal to extend bailout loans 'of significant benefit'

on 05/03/2013 18:47:31

The Taoiseach has told the Dáil that a proposal to extend the term of Ireland's bailout loans would be of significant benefit to the country.

Enda Kenny was speaking after EU Finance Ministers formally requested the troika to work out the best possible option for Ireland.

If the deal Ireland is seeking is agreed next month, it would allow the government to avoid borrowing €7bn at higher interest rates to repay the country's bailout loans.