The deal on bank debt agreed in Brussels this week has been described as a light at the end of the tunnel for hard hit Clare taxpayers.
EU Finance Ministers will begin working on the details of how sovereign and bank debt will be separated on July 9th, however the process is expected to take a number of months to complete.
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It’s hoped the development could shave between 30 and 40 billion euro from Ireland’s bank debt.
Clare Government TD Michael McNamara says it should result in a return to growth for the economy but warned that tough measures currrently in place will have to continue
