The Taoiseach is facing into an EU summit in Brussels today, but a bid for a lower bailout interest rate is no longer on the agenda.
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It’s been put off until a clear picture of the health of our banks is revealed when the results of a new round of stress tests are announced next week.
The summit is now being overshadowed by events in Portugal, where government austerity plans collapsed last night, leading the Prime Minister to quit.
Economist Michael O’Sullivan believes the developments in Portugal should make European leaders sit up and take notice of concerns about bailout interest rates:
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