That move, echoing a similar concession made to Greece in December, will allow Ireland ‘‘to enhance the sustainability of Irish debt and over time will cost us less,’’ Noonan said.
The decision also needed approval by the EU’s 27 finance ministers.
The EU’s monetary affairs commissioner, Olli Rehn, said both Ireland and Portugal are expected to return to the markets for their financing needs this year.
‘‘A successful return to the markets for these two countries is both in the interest of themselves and certainly in the interest of the entire European Union,’’ Rehn said.
Juergen Baetz can be reached at http://www.twitter.com/jbaetz
Don Melvin can be reached at http://twitter.com/Don_Melvin