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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 29 June 2012 [View all]
xchrom
(108,903 posts)51. Taoiseach says EU deal will ease Ireland's debt burden
http://www.irishtimes.com/newspaper/breaking/2012/0629/breaking1.html
?ts=1340971813
Taoiseach Enda Kenny has said a European Union agreement reached in Brussels in the early hours of this morning to bring down borrowing costs for indebted countries will reduce the debt burden on Ireland's taxpayers.
Responding to pleas from Irish, Spanish and Italian leaders, the midnight summit of the 17-member currency area agreed that euro area rescue funds could be used to stabilise bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms.
In addition to reducing costs, the deal reached at the Brussels meeting will create a single supervisory body for euro zone banks by the end of this year, a first step towards a European banking union.
Mr Kenny said the agreement represented a "seismic shift" in European policy and should open the way to "re-engineer the debt burden on our taxpayers".
?ts=1340971813
Taoiseach Enda Kenny has said a European Union agreement reached in Brussels in the early hours of this morning to bring down borrowing costs for indebted countries will reduce the debt burden on Ireland's taxpayers.
Responding to pleas from Irish, Spanish and Italian leaders, the midnight summit of the 17-member currency area agreed that euro area rescue funds could be used to stabilise bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms.
In addition to reducing costs, the deal reached at the Brussels meeting will create a single supervisory body for euro zone banks by the end of this year, a first step towards a European banking union.
Mr Kenny said the agreement represented a "seismic shift" in European policy and should open the way to "re-engineer the debt burden on our taxpayers".
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