Greek deal may help Ireland
By Carmel Crimmins |
May 9, 2011, Monday
|
Print Edition
Print Edition
IRELAND'S government is watching to see what concessions it can win on its EU-IMF bailout if Greece is given a new deal to resolve its worsening debt crisis, a senior government minister said yesterday.
"The thing I am interested in is whether there are positive implications for Ireland about dealing with the situation the Greek government now confronts," Minister for Energy Pat Rabbitte told broadcaster RTE.
"The Irish government intends for the duration of the program to continue to negotiate improvements and to take advantage of developments elsewhere in the hope that there will be a multi-lateral approach to renegotiating (the) bailout."
Rabbitte, a former leader of junior coalition party Labour and once seen as a contender for the position of finance minister, also said that he would like to see a rescheduling of debt issued to Ireland under its 85 billion euro (US$122 billion) rescue package.
"Quite frankly the (interest) rate on Ireland must be reduced and in my own view the debt must also be rescheduled but that's another issue," Rabbitte said.
There is a growing acknowledgement that Greece needs a new economic plan to tackle its deteriorating debt crisis and top eurozone finance ministers gathered in Luxembourg late Friday to seek possible options.
A new plan may include pushing back Greece's budget targets, easing the terms of its 110 billion euro international bailout, giving it additional aid and a mild restructuring of its sovereign debt, official sources and analysts say.
Ireland insists its debt burden, expected by the IMF to peak at 125 percent of gross domestic product in 2013, is sustainable.
"The thing I am interested in is whether there are positive implications for Ireland about dealing with the situation the Greek government now confronts," Minister for Energy Pat Rabbitte told broadcaster RTE.
"The Irish government intends for the duration of the program to continue to negotiate improvements and to take advantage of developments elsewhere in the hope that there will be a multi-lateral approach to renegotiating (the) bailout."
Rabbitte, a former leader of junior coalition party Labour and once seen as a contender for the position of finance minister, also said that he would like to see a rescheduling of debt issued to Ireland under its 85 billion euro (US$122 billion) rescue package.
"Quite frankly the (interest) rate on Ireland must be reduced and in my own view the debt must also be rescheduled but that's another issue," Rabbitte said.
There is a growing acknowledgement that Greece needs a new economic plan to tackle its deteriorating debt crisis and top eurozone finance ministers gathered in Luxembourg late Friday to seek possible options.
A new plan may include pushing back Greece's budget targets, easing the terms of its 110 billion euro international bailout, giving it additional aid and a mild restructuring of its sovereign debt, official sources and analysts say.
Ireland insists its debt burden, expected by the IMF to peak at 125 percent of gross domestic product in 2013, is sustainable.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
