2 publishers · first seen Thu, 29 Oct 2026 07:48 UTC · updated Thu, 29 Oct 2026 19:00 UTC
The Irish government plans to repay €8 billion of loans from the European Financial Stabilisation Mechanism (EFSM) ahead of schedule, a move that could save taxpayers an estimated €90 million. Tánaiste and Minister for Finance Simon Harris presented a memo to Cabinet authorising the early repayment, which requires consultation with the European Commission before proceeding. The payment is expected to be made before the end of 2026.
Ireland originally borrowed €22.5 billion under the EFSM, with €15.3 billion still outstanding. The National Treasury Management Agency will decide whether the repayment reduces the national debt, which stood at €220 billion last month. Additional bailout-related debt of €18.4 billion also remains, according to the NTMA.
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