Ireland and Portugal get lower interest rates on bailouts

Ireland and Portugal on Thursday (21 July) were given longer deadlines and lower interest rates to pay back their loans under their respective EU-IMF bailouts, but eurozone leaders made it clear that no private investors will be involved in their rescue, as it is the case with Greece.

Similarly to Greece, both Ireland and Portugal will be given 15 to 30 years to repay their loans, as opposed to the current 7.5 year-deadline and their interest rate will be lowered to around 3.5 percent. ...