Brexit & Ireland, an inside story of the Irish response

Tuesday, 03 September 2019
Need to understand how Ireland helped to shape the EU's response to Brexit? RTÉ's Europe correspondent Tony Connelly tells the dramatic story of the Irish response to this political and economic earthquake. Read More...

Stanhope Forbes, father of Cornwall's Newlyn School of painting

Friday, 16 August 2019
Dublin-born Stanhope Forbes spent time painting Brittany before founding the influential Newlyn School of painters in Cornwall in the late 19th century. Read More...

Lough Derg: the spirit of a holy place

Wednesday, 04 April 2012
A small island in a lake called Lough Derg is one of the most famous of Ireland's places of pilgrimage. About 35,000 pilgrims come to it each year intent on doing penance for their sins or seeking divine intervention in their lives. Read More...

Nantes-Brest Canal, Brittany's popular leisure waterway

Friday, 07 October 2011
The Nantes-Brest Canal is a 364 km long waterway connecting the city of Brest, on the west of Brittany, to the city of Nantes in the south east. Read More...

The shrine of the Cailleach at Glen Lyon

Wednesday, 07 September 2011
Each year, in one of the most remote areas of Scotland, a family of stones are brought out of the house in the spring and returned to the house for the winter. The tradition stretches back thousands of years and the site is believed to be the only surviving shrine to the Celtic goddess Cailleach. Read More...

Ireland to pay lower interest rate on EU bailout loan

Renegotiation of bailout deal could save €900m annually to the Irish economy.

Renegotiation of bailout deal could save €900m annually to the Irish economy.

The Irish Government secured a reduction on its bailout loan repayments following a meeting of EU leaders in Brussels on July 21st.

Ireland's interest rate will be lowered from 6% to between 3.5% and 4% and the length of time to pay back the loan has also been extended from seven and a half years to 15 years.

Finance Minister Michael Noonan said the changes to the bailout deal will save Ireland around €700m to €900m each year in interest payments, money the Irish Government can now spend elsewhere.

The news was a significant victory for Taoiseach Enda Kenny, who promised a renegotiation of the EU bailout terms during last March's general election campaign.

The Irish economy is expected to return to positive growth this year, according to the IMF, the EU Commission, and the Irish Central Bank. In May the Irish Government published revised economic forecasts anticipating growth of +0.8% for 2011 and +2.5% for 2012.

Search the Magazine


Celtic Countries is the online magazine for people who enjoy the Celtic nations, their natural splendour, culture, and lifestyles.

Subscribe to the Newsletter

Sign up for our monthy Celtic Countries Magazine email newsletter for the latest stories from our website.