Ireland will benefit from a reduction of the interest it pays for emergency loans from the European Union, informs BBC.
Ireland now pays an interest of 5.8% for the loans from the International Monetary Fund, the countries of the euro area and a special fund created by the European Commission.
It is not yet known how much the interest will be reduced, but the British central bank calculated that a 1% reduction would bring the country’s ailing economy 400 million euros.
According to sources consulted by the BBC, a written procedure in this regard will be approved before the May 17 meeting of finance ministers from the EU and will serve to accelerate the implementation of the reduction.
In November 2010, Ireland asked for loans from EU and IMF totaling 85 billion euros, of which 17.5 billion is National Pension Reserve and still it is not clear what concessions will be made in return.
Dublin so far remained firmly on its position to not abandon the very low corporate tax of 12.5%, as part of an eventual agreement with the EU, ignoring the pressure of France and Britain, which believe that this is unfair competition.
One possibility for Ireland is considering changing the tax base so that, for example, multinational companies that have offices in this country to pay the tax rate of 12.5% only for gains in Ireland.