Bank deal a vital boost for the State

AS MORE details of the bank deal emerge, it looks like we will indeed have an easing of financial pressure for the next few years.

WHILE it is true that the debt is being pushed out over many years, the repayments will be much like a long-term mortgage where the burden eases as the years progress.

We did not get the hoped for debt write-off or debt forgiveness but this is not an ideal world.

What we really needed was a practical solution for our current difficulties and this ground-breaking deal gives us just that.

It is a boost for weary taxpayers and Finance Minister Michael Noonan has confirmed that he will be using the savings to reduce budget pain over the next two years.

All in all, it was a good night's work.