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€10.5bn may be extended

THE EU may consider rescheduling at least €10.5bn of Irish rescue loans due to mature in the next two to three years.

Davy Stockbrokers said that taken with last month's deal on Anglo, extending the loans will cut in half the State's likely funding needs for 2015 to €9bn.

It is comprised of €2.6bn of promissory notes and €6.3bn of European funding.