Bloomberg News

Ireland Working on Strengthening Irish Life Restructuring Plan

December 14, 2011

Dec. 14 (Bloomberg) -- Ireland is working on options to strengthen a restructuring plan for Irish Life & Permanent Plc, which was first submitted to the European Commission in July, the Commission said.

“An assessment of these options will be completed by end- December 2011 and discussed again in the next review mission in January,” the Commission said in a report on Ireland, published today.

Deleveraging of the country’s lenders is “broadly in line” with Ireland’s aid program “despite the weakened market sentiment,” it said.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net


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