Kenny Confident on Irish Outlook, Warns Of ‘Chasing Rainbows’
“I am confident that colleagues remain committed to securing a positive outcome,” he said in prepared remarks for a speech in Brussels.
Ireland, which will take on the European Union’s six-month presidency in January, is trying to lower the cost of its bank bailout, in part by seeking to restructure 30 billion euros ($39 billion) of promissory notes used to rescue the former Anglo Irish Bank. The country also supports related efforts to create a euro-area bank supervisor and allow direct bank aid from the 17-nation currency bloc’s firewall fund.
Kenny said the EU may need more integration of its budgets and economies in order to stabilize the common currency and the 17-nation economy.
“Let us move swiftly to do what needs to be done,” Kenny said. “But in examining how to move ahead, let us not distract ourselves chasing rainbows.”
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