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No movement on interest -- Bruton

There will be no deal next week on Ireland's bid to reduce the interest rate it pays on its EU loans, Minister for Jobs, Enterprise and Innovation Richard Bruton said yesterday.

EU finance ministers are reuniting in Brussels on Monday for a regular monthly meeting that is likely to be overshadowed by concerns about the Greek rescue deal and the recent Portuguese package.

Mr Bruton said it was "apparent" there would be no movement after a hardening of the French president's position on Ireland's corporate tax rate.

France has said it will not agree to a rate cut unless Ireland increases its 12.5pc corporate tax rate.

Mr Bruton said the Government's position on corporation tax had not changed.

Irish Independent