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Schulz: EU must keep Irish debt promise

Thursday, October 04 12:18:45

Speaking in the Dail Chamber today, EU Parliament President, Martin Schulz, said that the EU must keep to promises made in June to separate Irish bank and sovereign debts.

He said that Ireland is facing a lot of problems to generate economic growth and the relief that was promised on banking debt should be followed through.

Recent comments from three finance ministers threw the plan into doubt last week, after they stated the bailout fund should not be used to deal with so-called "legacy debt".

The Taoiseach told Mr. Schulz that the June leaders deal to ease our banking debt needs to be implemented.

It is something that he agrees with.

The President of the European Commission also said yesterday he wants the issue of Irish legacy debt dealt with before we takeover the Presidency of the EU on January 1st.

Jose-Manuel Barosso met with the Taoiseach in Brussels on Wednesday.

Mr. Barosso said he understands that real sacrifices are being made and also paid tribute to Ireland and the government for reducing our budget deficit.