Bloomberg News

Irish Would Like Quid-Pro-Quo for Taking Bank Hit, Minister Says

March 01, 2012

Irish Energy Minister Pat Rabbitte said that the government would like some payback from its European partners for having bailed out the country’s banks to protect Europe’s financial system.

“We did put our finger in the dyke for the banks of the rest of Europe and a quid-pro-quo now would be appreciated,” Rabbitte said in an interview with Newstalk Radio today. “It would be normal if the European authorities acknowledged that in the discussions that have been underway.”

Rabbitte said that he is “optimistic” that the government may be able to win concessions from its bailout partners on reducing the cost of promissory notes used to rescue Anglo Irish Bank Corp., renamed the Irish Bank Resolution Corp.

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


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