The Shannon Chamber of Commerce has criticised the 85 billion euro EU-IMF bailout, saying Ireland is paying the price for being good Europeans.
It has hit out at European finance bosses for not shouldering a portion of the blame, and for putting interests of the Eurozone ahead of our own.
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The business group also says it’s concerned that the interest on funds drawn down from the fund, currently set at 5.8 per cent, is variable.
Director with Shannon Chamber Ian Barrett is also critical of a provision within the deal which protects bond holders from taking over a portion of Ireland’s losses.
