Tangled up in Blue
Certified Senior Citizen⭐
That isn't really true (as the big chunk of extra tax which continues to come out of my pay packet every month would testify to).
There's currently a plan to repay the bulk of the IMF portion of the loan but the majority of the bailout that Ireland received came from the EU.
Its more of a refinancing that a repayment anyway. They just worked out that it'll be cheaper to borrow from the markets than it will be from the IMF - who charge 5% interest.
Ireland won't have paid back all of what it borrowed until 2033.
But, according to the FT, they're the "big winners" from the EU bail-out fund.
http://www.ft.com/intl/cms/s/0/fbc2849c-c423-11e1-850c-00144feabdc0.html#axzz3DOsfxQzu