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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.
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