Bruton: Ministers' statement on debt 'part of ups and downs of negotiations'26/09/2012 - 10:04:07
Minister for Enterprise Richard Bruton has today described comments by the German, Finnish and Dutch finance ministers about the European Stability Mechanism as part of the "ups and downs" of negotiations.
The three finance ministers issued a statement last night, which appears to reverse on a deal made in principle in June to reduce Ireland's bank debt, most notably that of Anglo Irish Bank.
They said that Europe's new bailout fund should only be used to deal with current difficulties, and it should not apply to "legacy assets".
However, Minister Bruton has said that while he notes the ministers' comments, their own heads of state have made an agreement which includes Ireland's debt.
He said that there will always be commentary from various political figures, but he is confident a deal can still be done.
"Well, I think in the course of negotiations of this nature, you'll always have ups and downs in negotiations, the important thing for Ireland is not the speed, but the quality of the solution that we work at," said Minister Bruton.
"[Irish Finance Minister] Michael Noonan has been going around, as you know, touring the different capitals, talking to officials, and working on how this can be got across the line.
"These sort of ups and downs in negotiations are to be expected."
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