Enda Kenny (Mayo, Fine Gael)

When Mr. Papandreou spoke to me before the meeting in Brussels, he was seeking a 2% reduction in the interest rate, as well as an extension of time, and I told him we would be highly supportive of helping the Greek people and Government in their difficulties. As matters stood, Greece was not within the EFSF but was outside that mechanism and a 1% reduction was given, as well an extension of time that he had requested. The agreement was that countries within the EFSF bailout mechanism could have an interest rate reduction applied to them. The Minister for Finance continues to negotiate in this regard on our behalf.

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