The Taoiseach Enda Kenny has welcomed the Eurozone deal which will see a reduction in the interest rate on Ireland’s EU/IMF bailout.
The cut – of around two per cent – will reduce the cost of the loan by around 800 million euro a year.
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The length of time Ireland has to repay the debt has also been doubled to 15 years.
The measures are part of an overall rescue package which includes provisions for a second bailout for Greece.
Mr Kenny says the deal will not mean changes to Ireland’s low corporate tax rate – which was one of the sticking points for the French Government:
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