Dublin and Lisbon to pay out less

Published on 22 July 2011 at 11:59

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The new rescue plan for Greece is also good news for Ireland, according to the Irish Independentwhich headlines with a “debt-saving deal of 800 million euros” – the amount the country will save in repayments every year thanks to the measures agreed by the leaders of the eurozone on July 21. Dublin will have up to 30 years to pay back the loan of €85 billion granted by the EU and the IMF in November 2010, and the interest rate will drop by two percent to 3.5 percent.

In Lisbon, Públicoalso notes that “the euro zone reduced the interest rate charged to Portugal and does away with the initial ‘penalty’". Portugal, the third country to get a bail-out, will benefit from the same rate of 3.5 percent and a repayment period extended to 15 years for the loan of 78 billion euros agreed in May.

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