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Ireland likely to pay more for its bailout than Greece or Portugal

Ireland could end up paying a higher interest rate on its bailout loans than either Greece or Portugal once negotiations are concluded at EU level within a fortnight.

Portugal yesterday agreed the budgetary targets which form part of its €78bn loan package and early indications suggest the country will end up with an interest rate similar to that of Greece at 4.8pc, while Ireland remains stuck with an average blended interest rate of 5.8pc agreed last November.

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