Greek crisis overshadows Irish bailout rate

Tuesday 21 June 2011 20.15
Michael Noonan - Comments supported by Independent TD Shane Ross
Michael Noonan - Comments supported by Independent TD Shane Ross

Taoiseach Enda Kenny has told the Dáil that the issue of the interest rate on our EU/IMF bailout deal was not discussed in Brussels yesterday because of the need to focus on the problems in Greece.

He also confirmed that the European Central Bank was not informed in advance of comments by the Minister for Finance Michael Noonan on burning bondholders in Anglo and Irish Nationwide in Washington last week.

Mr Kenny said Mr Noonan’s remarks were consistent with Government policy.

He said the bondholders in Anglo Irish Bank are in very different circumstances to bondholders in AIB and Bank of Ireland.

The Taoiseach said the minister will raise the matter with the ECB in the autumn.

He was responding to comments from the Independent TD Shane Ross.

Deputy Ross said the minister's comments should be applauded, but added that it appears there was a deafening silence from the EU to the remarks.