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Has the Republic of Ireland repaid the £9 billion provided by the UK after the 2009 financial crisis?

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    Is there any chance of sourcing your figure of £9 billion? It appears armatita gives a source dealing with the £3.2 billion loan under the Loans to Ireland act, and there are unsourced references in the media to a £7 billion total (mostly from before the act) but I can't find anything quoting £9 billion. – origimbo Nov 29 '17 at 18:08
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Has the Republic of Ireland repaid the £9 billion provided by the UK after the 2009 financial crisis?

The word we usually use is "loaned" (provided is quite ambiguous in these circumstances). This is important because Ireland is paying interest over that sum. And the interest is similar to the ones being used in the euro zone.

The bailout was made by several agencies including:

Recently the Irish government showed interest in repaying the loans to Denmark and Sweden. But not to the UK since paying sooner would not be beneficial under their bilateral agreement (emphasis is mine; the article is from September, 2017).

The government will also seek to repay 600 million euros owed to Sweden and 400 million to Denmark in bilateral loans that were part of the bailout package.

But Donohoe said he would not seek early repayment of a British bilateral bailout loan as its fixed terms would not allow for any savings.

EDIT (added information by user @richardb)

  • Under the terms of the Loans to Ireland Act 2010, HM Treasury is obliged to produce six-monthly reports on the state of the loans. At the time of writing, a total of £3,226,960,000 has been loaned under the arrangement. Ireland has paid £399,592,136.04 in interest. None of the maturity dates of the individual loans has been reached, so no repayment of the principal has been made.
  • It's probably worth highlighting that the linked acts caps the loan total at £3.25bn, not the £9bn the questioner has stated, for which they have not provided a source. – Jontia Feb 6 at 9:36
  • really good answer +1 – Display name Feb 7 at 12:50

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