Brian Lenihan Jnr (Dublin West, Fianna Fail)

The interest rate is a crucial part of the negotiations. Deputy Burton highlighted a very important issue in the negotiations, namely, the period for which the relevant funds will be available, in other words, the term of the funding. One of the difficulties with Greece was that the funding was very short term which will create a funding wall for the country at the end of the three year period. With regard to variable terms, for example, three year, six year or nine year money, naturally one's interest rate increases with one's term.

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