Big progress for the Irish govt is expected today in their efforts to postpone debt repayments as finance ministers meet today to discuss approving it, with little opposition expected. The Indo are hopeful of a "deal" being announced today, but that would seem premature.
A NEW deal on Ireland's multi-billion euro debt to the European Union could be struck as soon as today reducing the pressure for harsh budgets in the years ahead.
So basically it gets the blessing today from the ministers, the Troika then work out how to execute it (Depressing once again how our finance dept can't do this work) and then they sit down next month to officially vote it through. So the "deal" would be announced next month, the intention to deal may well be called out today.Ireland received a significant boost in its bid to seek an extension to the maturities of its bailout loans last night after finance ministers of the countries that share the euro currency backed the deal.
EU commissioner for economic and monetary affairs Olli Rehn said he expected an arrangement to be concluded by next months meeting of finance ministers, which is scheduled to take place in Dublin.
Importantly for FG (And Noonan's job), the mooted German opposition doesn't seem to be materialising.
EU deal set to postpone our
Boost for Ireland as eurogroup backs loan extension - The Irish Times - Tue, Mar 05, 2013