Kenny rejects rate cut over corporation tax threat

Ireland was offered a 1 per cent cut in the interest rate it pays the European bail-out fund but Taoiseach Enda Kenny turned it down because EU heads of government wanted changes in the Irish corporation tax in return.

12th March, 2011
Kenny rejects rate cut over corporation tax threat
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Ireland was offered a 1 per cent cut in the interest rate it pays the European bail-out fund but Taoiseach Enda Kenny turned it down because EU heads of government wanted changes in the Irish corporation tax in return.

The offer was made early on Saturday morning at the EU summit in Brussels, following seven hours of negotiations during which Kenny clashed repeatedly with French president Nicolas Sarkozy.

A 1 per cent cut would save Ireland...

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