DUBLIN (Reuters) - Ireland expects European leaders to agree to cut the country’s bank debt burden by June of next year, when Dublin’s presidency of the European Union draws to a close, Prime Minister Enda Kenny was quoted as saying on Sunday.
“By June, following the decision of the European Council, we expect agreement on the modalities of reducing the burden that the Irish taxpayer took on from the recapitalisation of the going-concern banks,” Kenny was quoted as saying by The Sunday Business Post and The Sunday Times newspapers.
“While an actual transaction may not be possible until 2014, a clear signal on how this is going to be done would certainly strengthen market confidence and reduce interest rates for Ireland as we seek to exit the programme.”
Kenny was speaking in an end-of-year interview with the newspapers.
Reporting by Carmel Crimmins; editing by Jason Neely