Wednesday 13 December 2017

Cut in debt burden a fair price for saving system

IRELAND is not overburdened with allies these days so it was welcome news that two of Europe's heaviest hitters have waded into the debate on reducing the country's debt burden.

Not one but two presidents from Europe have backed us. On Wednesday, European Commission president José Manuel Barroso offered support in Brussels for the Government's efforts to get some relief on the €64bn debt burden linked to the bank bailout.

Yesterday, it was the turn of European Parliament president Martin Schulz, who told the Dail that he believes the debt burden should be adjusted along the lines of the statement issued after the June summit. That statement promised to break the link between bank debt and countries' debts.

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