Ireland is not seeking a writedown on debt - Taoiseach

Taoiseach Enda Kenny said that the Government is seeking to reduce the cost of Ireland’s bailout of its banks, and isn’t looking for a writedown of sovereign debt.

13th December, 2011
Ireland is not seeking a writedown on debt - Taoiseach
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Taoiseach Enda Kenny said that the Government is seeking to reduce the cost of Ireland’s bailout of its banks, and isn’t looking for a writedown of sovereign debt.

“What I was talking about here was not a writedown of sovereign debt but a reconstruction of the bank situation in respect of the recapitalisation that had taken place at very high interest rates,” Kenny told the Dáil.

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