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Thu 01 Jan 2011State may be unable to repay €35bn bailout, says Noonan
THE STATE may be unable to repay the €35 billion bailout being provided by the EU because it is too “expensive”, Fine Gael’s finance spokesman Michael Noonan said.
In an interview with the Financial Times, published today, Mr Noonan also raised the possibility of renegotiating terms with those senior bondholders in the banks whose investments are not covered by the 2008 government guarantee.
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