Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Public Domain Photos via Creative Commons
Bailout

EU/IMF 'likely' to charge Ireland almost 7% interest on bailout: report

RTÉ reports that the EU and IMF are looking to charge 6.7% interest for Ireland’s financial recovery package.

THE EU AND IMF ARE LIKELY TO IMPOSE a 6.7% interest rate on Ireland for the country’s bailout, according to RTÉ.

This compares to the 5.2% rate agreed with Greece as part of its bailout package earlier this year.

Reuters reported this morning that an agreement could be reached between the EU, IMF and Ireland by Sunday which would see the country receive an €85bn bailout fund.

The EU and IMF were reported earlier today to be discussing how to make senior bondholders shoulder part of the bailout costs. Commissioner Olli Rehn’s spokesperson said the EU wanted to encourage a banking and financial sector that paid the consequences for risky behaviour.

Read the full report on RTÉ >

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.