Belfast Telegraph

Tuesday 16 September 2014

EU chief backs interest rate cut

European Parliament President Jerzy Buzek has backed Ireland's call for a cut in interest rates on loans (AP)

The European Parliament president has backed Ireland's case for an interest rate cut in its international loans claiming it was important for economic growth.

In one of the strongest demonstrations of support, Jerzy Buzek said there was a "positive approach" to the idea within the European Parliament.

On a visit to Ireland Mr Buzek said he believed a reduction would be helpful for the economy.

"Growth is necessary, from this point of view lowering the interest tax will be important," he said.

He added: "In the European Parliament, it is rather positive approach for such ideas.

"It was of course not discussed properly and widely by my colleagues and myself, but I can feel such atmosphere in the parliament."

He said the topic would discussed in detail at the next European Council meeting in October.

Mr Buzek said he came with support and praise for the "deep and difficult reforms" implemented in Ireland.

He said the country could bounce back to be the "best example of the success story of the European Union" in two or three years.

Mr Buzek will meet Taoiseach Enda Kenny on Tuesday morning.

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