Ireland: Enda Kenny to call for bail-out to be renegotiated
Ireland's new prime minister will warn Angela Merkel and Nicolas Sarkozy that a massive Irish backlash against the country's austerity programme means the £72 billion bail-out must be renegotiated.
http://www.telegraph.co.uk/news/worldnews/europe/ireland/8350486/Ireland-Enda-Kenny-to-call-for-bail-out-to-be-renegotiated.htmlEnda Kenny, leader of Ireland's Fine Gael party, hailed a "democratic revolution" after angry voters this weekend hammered an Irish government blamed for a catastrophic economic collapse and loss of sovereignty to the European Union.
Mr Kenny is expected to form a coalition government later this week after Ireland's ruling Fianna Fail party was "wiped out" in early elections, losing over 50 seats in its worst election result in 85 years.
Ireland's new leader travels to Helsinki on Friday for a meeting of centre-Right EU leaders and confrontation with the German chancellor and French president over the EU and International Monetary Fund austerity programme.
He will plead with the EU for reduced interest rates on loans that Ireland was forced into last year when the collapse of Irish banks threatened to destroy the euro.
The new Irish government will also ask that investors, often other European financial institutions, take on some of an £85 billion debt burden of Irish banks, currently carried by taxpayers.
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