Brussels Deal Focuses On Jobs

The Taoiseach Enda Kenny has welcomed a deal hammered out in Brussels, which it is hoped, will calm the eurozone debt crisis.

After a marathon session of talks, eurozone leaders agreed to boost the bailout fund to around a trillion euro, as well as a €106bn fund to re-capitalise banks.

Banks have also agreed to write off 50%t of Greek debt.

At the end of the summit in Brussels yesterday, Mr Kenny said it was a positive breakthrough for Ireland too.

Mr Kenny said: "This allows a much-improved environment within the eurozone which brings about stability for the euro and therefore an improved environment for Ireland to do its business.

"This allows us now to focus on the real opportunities that this presents, with increased opportunities for jobs, job creation, business initiatives and getting people back to work."

Meanwhile Tánaiste Eamon Gilmore said Ireland does not want to be in an austerity programme for the next 10 years and that the country will hopefully return to the markets within the next two years.

Mr Gilmore said: "We don't want to be in a situation that we are in recession for the next 10 or 15 years."

Finance Minister Michael Noonan said:"Greece will remain in a bailout programme for the next 10 years, while Ireland could be out in two, with the economy growing again."

(LB)