Noonan hoping for market finance to repay bailout loans early
Finance Minister Michael Noonan has said that he wants to repay Ireland's bailout loans early.
Minister Noonan said the country could save tens of millions of euro by taking out new loans to repay its old ones.
Ireland is currently paying 5% interest on its IMF loans - over twice as much interest as it would pay to borrow the same money on the bond markets.
MinisterNoonan said the IMF is already on board for the idea - and now he just needs to get approval from the EU:
"The present position is (that) the IMF are in favour of what we want to do," he said.
"I've had a short discussion with Christine (Lagarde, IMF managing director) about it (and) she won't inhibit us in any way, she'll assist us.`
"And then we need to talk to our various partners in Europe."
