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Noonan in Paris for Irish bank debt talk

Wednesday, September 12 10:40:37

Finance Minister, Michael Noonan, is in Paris this morning on the first leg of a three-city tour in a bid to convince European leaders to ease Ireland's bailout burden.

He wants to see Europe help by directly tackling Irish bank debt generally and Anglo's promissory notes in particular.

Mr Noonan said today it may be in Ireland's interest to extend an October deadline to reach a deal with Europe to ease the bailout burden.

"It might be in the Irish interest if the deadline were extended somewhat," Mr Noonan told reporters today in Paris, where he met his French counterpart Pierre Moscovici as part of a campaign to bolster support for an Irish banking deal.

"I'm still working towards the end of October as a deadline but we're not going to be unduly concerned if it drifts a little bit."

European leaders in June opened the door for the euro- region's rescue funds to directly recapitalise banks.

Germany's finance minister Wolfgang Schauble has already signalled his reservations to giving the Irish a better deal.

"The French have a very good understanding of the Irish position and are committed to implementing the principles agreed on June 29th in a practical way," Mr Noonan said this morning.