Noonan to seek "longest term possible"

Michael Noonan said the Irish government would be seeking to secure "the longest term possible" for Irish bailout debt, after euro zone finance ministers agreed to examine the possibility of extending the term of the loans.

22nd January, 2013

Michael Noonan said the Irish government would be seeking to secure "the longest term possible" for Irish bailout debt, after euro zone finance ministers agreed to examine the possibility of extending the term of the loans.

At present the average maturity of Irish loans is seven years.

Speaking on RTE radio, Noonan compared Ireland's situation to that of an individual who had a term loan that he or she converted into a mortgage. Over time,...

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