Mr Kenny has promised to renegotiate the penal interest rate that the government is paying for its bail-out.

ECONOMIST: Ireland��s troubles

It should lend only to pre-certified countries facing temporary liquidity shocks, on a short-term basis, at a penal interest rate, and without economic conditions attached.

ECONOMIST: Intrigue on 19th Street

To be clear, right now the ECB is purchasing modest amounts of Italian and Spanish government debt, for example, in an attempt to keep the respective interest rates they're charged at a bit less than the penal and prohibitive 7%.

BBC: The eurozone's borrowing costs may stay lethally high