Ireland eyeing concessions if ECB aids Greece - Fin Min

DUBLIN Wed Feb 8, 2012 1:54pm EST

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DUBLIN Feb 8 (Reuters) - Ireland would look for concessions from the European Central Bank if the bank contributed to a restructuring of Greece's sovereign debt, Finance Minister Michael Noonan said on Wednesday.

Ireland is in talks with its EU-IMF creditors to cut the cost of bailing out its banks, in part by refinancing promissory notes used to rescue defunct lender Anglo Irish Bank.

ECB policymakers are still divided on what contribution the central bank could make to a restructuring of Greece's sovereign debt, two euro zone monetary policy sources said on Wednesday.

"If the ECB are prepared to make this kind of concession to Greece it would encourage me to think that they might be ready to make concessions on the promissory note to Ireland," Noonan told state broadcaster RTE.

"I see it, if it occurs, as a strengthening of our negotiating position.

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