Its cold, damp, cloudy and dark on the Kirchberg plateau, which overlooks the tiny city of Luxembourg. It’s here that finance ministers gathered yesterday for crunch talks on Greece and foreign ministers discussed Syria and Libya.
There are not a lot of beaming smiles to be seen on occasions like this. But Minister for Finance Michael Noonan could not conceal his delight yesterday as his counterparts lifted preferred creditor status from the permanent euro-zone bailout fund should Ireland, Portugal or Greece need aid.
In theory at least, this should make it easier for Ireland to regain access to private debt markets next year. It should also improve the Government’s prospects of avoiding aid from the European Stability Mechanism fund, which comes into operation in mid-2013. Noonan believes the theory. “This is very good news for Ireland,” he said.
For more: Chink of light for Ireland amid gloom over solution for Greece - The Irish Times - Tue, Jun 21, 2011
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