Ireland Bid for EU Relief Rejected as Kenny Holds Line on Taxes
This article is for subscribers only.
Euro-area leaders rebuffed Irish Prime Minister Enda Kenny’s bid for easier bailout terms, demanding that Ireland raise tax rates in return, as they rewarded Greece with a cut in its rescue-loan costs.
“We weren’t really satisfied yet today with what Ireland pledged,” German Chancellor Angela Merkel said after a summit that ended about 1:30 a.m. in Brussels. “We can only offer the interest-rate cut when we have something in return.”