Douglas Carswell's Blog

Ireland's bailout is driving her into the red

Irish Taoiseach, Edna Kenny, has denied reports that he asked for the rate of interest on Britain’s £3.25 Billion loan to be cut during his meeting with David Cameron today.

That this might become an issue was not simply predictable, but actually predicted.  

On December 15^th last year, I forced a vote in the Commons on precisely this issue, with 243 MPs supporting me, and 301 against. 

My amendment sought to keep the interest rate on the Ireland loan low and avoid pushing “Ireland deeper into debt”. I specifically warned the House of the dangers of leaving it to “technocrats in the Treasury and watery eyed officials, to decide the rate of interest that we charge our friend”, arguing that we needed the Commons to approve the rate in order to secure a lower rate of interest on it.

The minister brushed aside my concerns  without, it seems to me, engaging in the substance of what I was proposing.

Four months on, the Irish Premier is having to deny he’s come begging those officials, via Downing Street, for a cut in the interest rate. 

Pressing a high interest loan on a friend has helped neither them, nor us. 

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