Creighton: Ireland will get bailout rate cut
The Minister for European Affairs Lucinda Creighton has said she believes Ireland will be able to get a reduction in the interest rate on the EU/IMF bailout deal.
It follows claims over the weekend that Ireland is heading for bankruptcy unless it pulls out of the deal.
In an article in the Irish Times, Economist Morgan Kelly said Ireland's debt is likely to hit €250bn by 2014.
But Ms Creighton said Europe has a lot of sympathy for Ireland, and as it stands, the country is meeting its targets.
Ms Creighton said: "We saw the reports from the EU and IMF last week that showed Ireland is meeting its targets. I think if we continue to do that there will be an opportunity to look at some sort of restructuring.
"I think it will probably be necessary, but nobody can forecast that completely, no economist and no politician can know precisely."
