January 27, 2013 / 1:06 PM / 5 years ago

Ireland has changes to make in bank debt proposal: minister

DUBLIN (Reuters) - Ireland has issues it needs to change in proposals presented last week to the European Central Bank (ECB) on rescheduling part of its bank debt, a government minister said on Sunday.

The ECB rejected Ireland’s preferred solution in protracted talks over the cost of servicing money it borrowed to rescue a failed bank, Reuters reported exclusively on Saturday, citing EU sources familiar with the discussions.

“There are issue that need to be changed and issues that need to be still agreed on,” transport minister Leo Varadkar told national broadcaster RTE, confirming that the proposals were discussed by the ECB’s governing council last week.

“There is agreement in a lot of areas, but there are a number of issues outstanding and some of those issues are very difficult ... We need to work on them but we are still very hopeful of getting a resolution.”

Reporting by Padraic Halpin; editing by Jane Baird

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