Kenny secures second backer for Irish Debt Deal

An Taoiseach Enda Kenny seems to have secured the support of French President Francois Hollande for giving Ireland a bank debt deal, this adds to the reported support given by German Chancellor Angela Merkel in viewing Ireland as a ‘special case’.

This was the first bilateral meeting between the two leaders in one of their capitals since President Hollande’s election in May 2012. The Taoiseach and President Hollande discussed Eurozone issues, preparations for the Irish EU Presidency and bilateral relations. The meeting forms part of the Taoiseach’s ongoing engagement with other EU Leaders and European Heads of Government.

Chancellor Merkel sated recently that Ireland had “unique circumstances” behind it’s bank and state debt crisis and went on to say that measures to ease the debt burden would be examined.

In a more direct statement Mr Hollande stating: “Ireland is a specific case and deserves to be seen as such.”

Mr Hollande said legacy debt should be included in the deal.

“What has been agreed upon in June will be implemented. The (Irish) banks have been recapitalised already and this was done through the budget and it increased the debt of Ireland, so this will have to be taken into account,” he said.

Mr Kenny said he was “very happy” the French president fully understands the Irish position.

“Our banks have been recapitalised and the situation is that Ireland was the first and only country which had a European position imposed upon it in the sense that there was no opportunity for the Government if it so wished to do it their way by burning bondholders,” he said.