Business Irish

Saturday 24 February 2018

Enda Kenny insists that European bank debt deal talks still ongoing

Taoiseach Enda Kenny
Taoiseach Enda Kenny
Michael Brennan

Michael Brennan

TAOISEACH Enda Kenny has insisted that the Government is still pursuing a deal on our bank debt despite the comments of a key Eurozone finance minister.

Financial markets were alarmed after the chair of the Eurogroup of Finance Ministers Jeroen Dijsselbloem suggested the Cypriot rescue deal should be a template for other bailouts.

It had cast doubt on Ireland's hopes of getting a deal to claw back around €25bn of taxpayers' money tied up in the bailouts of AIB, Bank of Ireland and Permanent TSB.

But Mr Kenny said the decision had been made by EU leaders in June last year to break the link between countries and bank debt.

"That decision has not changed and the mechanics of those discussions are now underway with the Ministers for Finance to lead to single supervisory mechanisms and banking union. So our job here is to retrieve as much for the taxpayer as possible and that will form part of those discussions," he said.

Mr Kenny also pointed out that Mr Dijsselbloem, who is the Dutch Minister for Finance, had issued a statement to withdraw his remarks.

He was speaking at the announcement of 112 new jobs in cyber-security by Zurich in Dublin.

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