The Governor of Ireland’s Central Bank says he expects the country to get a loan worth tens of billions through an International Monetary Fund-European Union rescue package.
But Professor Patrick Honohan said he believes influential IMF-EU experts will not demand any radical alteration of the Government’s savings plans once they inspect Exchequer and bank books.
Patrick Honohan made his comments this morning, with a delegation from those groups due in Dublin today.
The Defence Minister is insisting a loan from the EU and IMF to help Irish banks would definitely not be a bailout.
Tony Killeen says we are in the unusual position where lenders are coming offering money to us rather than Ireland chasing a loan.
Speaking to Morning Focus on Clare FM he said there is a difference between a loan and a bailout.
"My view of a loan – I’ve often had one and still have loans – is that it’s a commercial arrangement that I entered into and I’ll pay back the full amount plus the charge for it" he said.
"That’s what I think a loan is; I’ve never considered any loan I’ve had – nor any loan anybody has had – as a bailout" he added.
