Eurogroup not prepared to offer Greek bailout terms to Ireland - Juncker

Tuesday 04 December 2012 11.12
Ministers are also due to discuss a bailout for Cyprus
Ministers are also due to discuss a bailout for Cyprus

The Chairman of the Eurogroup of finance ministers has said ministers were not prepared to extend the same terms to Ireland and Portugal as were agreed last week in order to manage Greece's long term debts.

Jean-Claude Juncker was speaking at the conclusion of the fourth Eurogroup meeting in as many weeks.

He said: "I don't think the Eurogroup is prepared to give equally similar treatment to [Portugal and Ireland] when it comes to the detailed discussions taken as far as Greece is concerned."

Earlier, Minister for Finance Michael Noonan said the Government would be interested in looking at elements of the Greek deal to see if they would help Ireland in exiting the bailout programme next year.

The European Union and the International Monetary Fund agreed on a compromise plan last month, which they hope will finally put Greece's debt on a sustainable footing.

One element is called a "buy back" plan under which Greece will purchase Greek bonds held by private investors before a deadline of 12 December.

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