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10 January 2013

Independent.ie: Van Rompuy and Barroso back deal on cutting €64 billion bank debt burden in Ireland


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Both European Commission president José Manuel Barroso and European Council President Herman Van Rompuy have lent their support to a deal to reduce the €64 billion banking debt burden in Ireland. (Includes link to Van Rompuy's remarks following the meeting with Taoiseach Enda Kenny.)


Mr Barroso said he was supportive of Ireland finding a solution to the promisory notes issue. He said the Commission was generally in favour of a deal, but he declined to comment on specific proposals. Mr Barroso said Ireland's presidency of the EU offered a great opportunity for the Government to "make its case better known".

Council President Van Rompuy highlighted the need to tackle the issue of Ireland's banking debt – as agreed by European leaders last June. "One of the key objectives is to break the vicious circle between banks and sovereigns, especially for Ireland", he said. Mr Van Rompuy has consistently been one of the strongest voices at EU level arguing for a reduction in the huge banking debt burden which resulted from the disastrous state banking guarantee in 2008.

Full article

Remarks by President of the European Council Herman Van Rompuy following the meeting with Taoiseach Enda Kenny, 9.1.13



© Irish Independent


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