– 09/08/14, 20:58 – Source: ANP
© Reuters.
Ireland wants to be a major part of its outstanding debts with the International Monetary Fund (IMF) early repayment. In this way, the country would benefit from the favorable conditions in the financial markets, where interest rates have fallen to historically low levels.
The Irish government expects annually at least 375 million of interest expenses to save three-quarters of the 22 billion that the IMF lent refinance. During the debt crisis to the country This will require land loans at low interest rates to attract the financial markets.
“We can borrow the money at less than 2 percent,” said Irish Finance Minister Michael Noonan Monday in Brussels, where he holds the plan spoke with Commissioner Jyrki Katainen. About the IMF loans Ireland now paying about 5 percent interest. In order to be able to put his plans euro countries should waive their right to just be refunded if the IMF.
quickly Ireland was rescued in 2010 with emergency support from the eurozone countries and the IMF from financial ruin after land in serious trouble had come through the financial crisis and the collapse of the housing market. In total, the country received 67.5 billion in emergency loans, the last part was made late last year.
Noonan discusses his plans Tuesday with Eurogroup chairman Jeroen Dijsselbloem and ECB President Mario Draghi. Insiders expect the refinancing be problematic. Few objections
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