Rescuing the Irish banks has cost Ireland dearly and now the government is trying to renegotiate the debt taken on during the banking crisis. It needs the approval of the Troika, and talks continue to drag on. Ireland owes a EUR 3.1 bln payment at the end of this month that it would like to see lowered.
FinMin Noonan is on the wires now saying the promissory notes are a bad deal for Ireland. He also says EU firewalls will be very important for Ireland, a tacit endorsement of the referendum to take place later this year of the Fiscal Compact.
