Thursday 21 September 2017

No rowback on EU commitments says Enda Kenny

Fiach Kelly in Brussels

TAOISEACH Enda Kenny says he detects no rowback among other EU countries on commitments to help Ireland with its banking debt because of this week's successful bond sale.

The sale of €5bn in ten year government bonds moves Ireland closer to exiting the bailout, but Mr Kenny says this will not make other EU countries less inclined to help with banking debt.

"The perception that because you have made progress shouldn't be that you emerge unscathed for the future," Mr Kenny said at the conclusion of a European Council meeting in Brussels.

"That's why it's all the more important and all the more necessary that support committed to by our European colleagues will be delivered on and I expect that to happen. I certainly have not detected any iota of rowback on that."

He said the Government still wants to get retrospective recapitalisation of the banks as part of EU efforts to break the link between banking and sovereign debt, and to extend the maturities of bailout loans.

"Ireland's objective here is to recover as much as a possible for our taxpayer," the Taoiseach added. "I have detected no sign of anybody rowing back on commitments already made.

"We've been at pains to say that because we've done so much to help ourselves that the co-operation and the commitment entered into by Europe would be honoured in full and I expect that to happen."

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