Thursday, July 10, 2014

Irish seek new EU credit line to ease bailout exit

September 06. 2013 6:35AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) The Irish government says it wants the European Union to grant it a new precautionary line of credit worth a potential 10 billion euros ($13 billion) to ease its planned exit this year from an international bailout.

Finance Minister Michael Noonan says Ireland wants the credit line only as a safeguard "to give confidence to our lenders." He says the figure equates roughly to Ireland's forecast 2014 budget deficit.

Ireland plans to impose its sixth straight austerity budget in October and resume full-fledged borrowing from bond markets by year's end. It has spent the past three years dependent on 67.5 billion euros in loans provided by EU partners and the International Monetary Fund.

Noonan made Friday's reported comments to the Irish Independent newspaper.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds