Friday 15 December 2017

Germany backs Ireland’s call for 1pc interest rate cut reporters

Ireland has received the backing of Germany for a 1pc rate cut on the EU portion of the €67.5bn bailout loans.

Tanaiste Eamon Gilmore held talks with German foreign minister Guido Westerwelle in Luxembourg today, after which a spokesperson said the Germany is backing Ireland's call for a reduction in the interest rate payable on the bailout funds.

The Government has sought a 1pc reduction in the interest rate, a call blocked by France which is insisting that Ireland raise its 12.5pc corporation tax rate as a condition to any changes to the bailout terms.

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