Ireland, Greece could change bailout terms

March 1, 2011 at 1:06 PM
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BRUSSELS, March 1 (UPI) -- EU Commissioner for Economic and Financial Affairs Olli Rehn said there may be flexibility in terms for Ireland's international bailout.

"I expect this issue of pricing policy will be looked at from the comprehensive strategy of the European Union. We expect that this issue will be looked at from the overall European perspective of safe-guarding financial stability in the euro area and ensuring debt-sustainability of all its members," Rehn said.

His remarks in Brussels referred to negotiations that would take place following elections in Ireland, EUobserver reported Monday.

A spokesman for Rehn's office, Amadeu Altafaj, added later that terms for Greece could also be adjusted.

"The pricing of the aid is open. Any way we can reinforce Ireland's fiscal sustainability makes sense. This goes for Greece as well, taking into account equal treatment for all member states," Altafaj said.

"There is a margin for discussions, but it is up to eurozone member states themselves on the question of interest rates, and provided the countries continue to fulfill existing conditions."

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