Business Irish

Thursday 18 January 2018

Taoiseach Enda Kenny says EU leaders must honour promise to reduce our €64bn bank debt

Michael Brennan Deputy Political Editor

TAOISEACH Enda Kenny today warned EU leaders that they had to honour their promise to reduce Ireland's €64bn bank debt.

He was speaking after his arrival in Brussels for a series of meeting to prepare for Ireland's hosting of the EU presidency in January.

Mr Kenny spoke frankly about the need to show citizens that decisions were made by EU leaders to break the link between banking debt and nation were "followed through".

"That's why it's particularly important to bring through to a conclusion the clear unequivocal decision made by the European Council on June 29 in regard to the breaking of the link between sovereign and bank debt," he said.

The prospects of getting a deal on our banking debt were dealt a blow last week when the German, Dutch and Finnish finance ministers declared that the new European bailout fund could not be used to deal with it.

Tanaiste Eamon Gilmore, who is in Brussels with fellow Government ministers to prepare for the Irish EU Presidency, said that people should not equate the statement by three finance ministers with the formal decision of the European Council of 27 EU leaders.

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