"PROVISIONAL VERSION 11.X.2011 ECONOMIC AND FINANCIAL AFFAIRS
Financial assistance to Ireland and Portugal
The Council adopted two decisions amending the terms of financial assistance granted to Ireland and Portugal under the European Financial Stabilisation Mechanism
The decisions extend the maximum average maturity of the loans to Ireland and Portugal to
12,5 years, while the maturity of individual tranches of the loan facilities may be of up to 30 years. The interest rate margins will be reduced to the EU's cost of funding. The extension of maturities and the reduction in the interest rate margin will also apply to the tranches that have already
The decisions amend implementing decisions 2011/77/EU and 2011/344/EU on granting EU financial assistance to Ireland and Portugal. They implement conclusions reached by the euro area heads of state or government on 21 July 2011."