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Deadline for repayment of Irish loans may be extended

A deal to save Ireland billions of euro, by extending the amount of time it has to repay part of the bailout debt, could be reached in Brussels today.

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Talks on extending the maturities on the portion of the bailout that came from Europe will continue among EU Finance Ministers today – and it’s understood the Eurozone Ministers are looking favourably on the deal.

The proposals could see the length of time Ireland has to repay its debt extended from 12 years for most of the loans – to 15 years, saving billions of euro and taking some of the pressure for harsh budgets off the Government.

It’s understood the IMF will not extend the maturities on its part of the bailout.

 

 

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