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Irish handbags: Irish Prime Minister Kenny Rejects Merkel’s Bailout Terms

Irish Prime Minister Enda Kenny rebuffed German Chancellor Angela Merkel’s conditions on easing bailout terms, setting up a clash as European Union leaders struggle to break a deadlock on tackling the debt crisis.

Kenny, arriving for his first summit as Ireland’s leader, rejected Merkel’s position to harmonize the corporate tax base in the euro region. Greece has already dismissed selling state- owned land to cut debt, her other prerequisite for reducing the cost of rescue loans.

“I’ve come here in two days in government with a very strong mandate from the Irish people,” Kenny told reporters in Brussels today. Late yesterday, he said, “I would not support any adoption of a common corporation tax rate.”

EU leaders are entering the final round of bargaining as they attempt to hammer out a package to snuff out the euro-area crisis by a March 25 deadline. Bond yields in Greece and Portugal touched euro-era records this week and debt ratings of Greece and Spain were cut.

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