Reply #11: Ireland rules out private sector haircuts [View All]

http://www.guardian.co.uk/business/feedarticle/9756010

DUBLIN, July 21 (Reuters) - Ireland ruled out asking private investors to swallow losses on its debt on Thursday but expects to pay less interest on its EU-IMF rescue package and possibly extend its bailout loans as part of efforts to end the euro zone debt crisis.
The head of Ireland's debt management agency told Reuters that even suggesting private investors should shoulder part of the country's debt burden was extremely risky.
"Ireland doesn't need and is not suggesting that there be any private sector involvement in the Irish solution," John Corrigan, the chief executive of the National Treasury Management Agency (NTMA), said in an interview in his offices.
"Any such suggestion would result in a permanent elevation in our borrowing costs."
Euro zone leaders are expected to agree a common position later on Thursday on a second bailout for Greece that seeks a contribution from private bondholders.