The EC reduces the interest rate and extends the maturities of Ireland's and Portugal's bailout...

|By:, SA News Editor

The EC reduces the interest rate and extends the maturities of Ireland's and Portugal's bailout loans. With the EC cutting the margin over cost of funds to 0, Ireland receives a reduction of 292.5 bps and Portugal a cut of 215 bps. Any yet-to-be-released tranches of the rescue funds will have maturities bumped from 15 to 30 years.