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Sat 04 Apr 2011Noonan calls for cut in bailout rate before banks recapitalised
MINISTER FOR Finance Michael Noonan wants an agreement to cut the interest rate on Ireland’s bailout loans before he draws down money for the next recapitalisation of the banks – but he insisted last night that he is not under a “tight deadline” to strike a deal.
With preparations for an €80 billion bailout of Portugal dominating a two-day meeting of EU finance ministers near Budapest, Mr Noonan gave no sign of any substantive progress in the Government’s campaign to secure a lower interest charge.
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