Burton: Efforts will continue on burden-sharing issue
A member of the Cabinet has said diplomatic efforts will continue, "week by week and month by month" for some burden-sharing of Irish debt.
Last night the Finance Minister Michael Noonan claimed opinion was moving in Europe for some re-structuring, but it was still very much in the minority.
There are also fears in Government circles that any "burning of bondholders" may cripple the two new pillar banks from accessing vital funding on the open market.
Social Protection Minister Joan Burton has said some form of re-structuring will have to happen.
Ms Burton said: "If the ECB decide, for example, that bondholders can never be touched, then we have to get a quid pro quo in terms of the structures that the ECB lay out for us.
"Now what are the quid pro quos: a refinancing package and reductions in the interest rates."
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