* Ireland (OTC BB: IRLD - headlines ) , Portugal look for same prolongation as Greece had
* Irish Finance Minister wakeful urge might not be met
* EU officials foster compromise, but shorter than demanded
By Annika Breidthardt and January Strupczewski
BRUSSELS, Mar 4 (Reuters) - Ireland and Portugal wish upto 15 more years to pay back loans to the EU to ease theirreturn to financial markets, but sources mentioned on Monday thatwhile an prolongation is expected it might not be as long as they want.
The head of the Eurogroup discussion of financial ministers saidlate on Monday he would inquire non-euro European Union colleagueson Tuesday if they were peaceful to arrange the conditions of theloans the EU done to Ireland and Portugal.
"If there was to be an consent tomorrow, you would inquire thetroika (of European Central Bank, European Commission andInternational Monetary Fund) to advance deliver with a offer forthe most appropriate probable choice for any of these of the twocountries," Jeroen Dijsselbloem said.
EU Commissioner Olli Rehn mentioned he hoped the ministers couldmake a preference at the next Eurogroup and EU financial ministersmeeting in Dublin in April.
EU governments are deliberation ways to help the two states,both bailout recipients, lapse to raising supports on the capitalmarkets. Loans to both states came from the two rescue fundsEFSM and EFSF.
This could be done by tying the borrowing indispensable to coverbig debt repayments in 2016 and 2021 for Portugal and 2016 and2022 in Ireland.
A full lapse to markets by Dublin and Lisbon would be asuccess is to euro zone, that wants to uncover that bailoutreforms can work, even even though the emperor debt predicament sentunemployment rocketing and led to an choosing deadlock in Italy.
Approval of non-euro region countries is to prolongation of theloan manhood for Portugal and Ireland is indispensable since bothcountries received loans from the European Financial StabilityMechanism (EFSM), a 60 billion-euro account that lifted allowance onthe marketplace against the safety of the bill of the entire EU.
An prolongation of the EFSM loans will thus have to beapproved by all EU countries. Extending loans postulated by theeuro region proxy bailout fund, the European FinancialStability Facility (EFSF), will need unanimous approval fromall 17 euro region governments that are shareholders in the EFSF.
Irish Finance Minister Michael Noonan told reporters onMonday he was wakeful his urge might not be met fully.
"Our lowest maturities are 5 years and they expand out tothe high 20s, so what you are asking is an prolongation of 15 yearson average, but you will see how it goes," Noonan said.
"I do not regard there is a showing to expand that long,"he added, vocalization ahead of the ministers' discussion in Brussels.
A comparison European Union source mentioned Portugal was demandingthe same extension, receiving its evidence from what was postulated toGreece as segment of its package in November (Xetra: A0Z24E - headlines ) .
GENERALLY IN FAVOUR
Ministers and EU officials have mentioned they are normally infavour of fluctuating maturities on the loans.
"Portugal and Ireland have such well-performing programmesthat there is a certain proclivity to assisting them," onesenior euro region authorized said.
But with Ireland's programme failing usually at the finish ofthis year and Portugal's next year, it might be as well early todecide now, the authorized said.
"I do believe you are going in the citation of genuinematurity extensions, may be not exorbitant, so that markets don'twonder," the authorized added.
An options paper by the European Commission and the EuropeanFinancial Stability Fund - the rescue account beneath that bothcountries received their bailouts - presented 5 options onhow to help Portugal and Ireland.
Back loading settlement of the loans inside of their existingschedules - or presumably moreover fluctuating the maturities of theloans over the stream settlement schedules - are the preferredoptions, according to the paper seen by Reuters..
"It is down to Germany now," a EU authorized said. "It alldepends on how well Germany can make the box that nothing of theseoptions are a significant change to the programme. If not, theywill need Bundestag approval."
With just 7 months until federal elections, Germany'sgovernment wants to prevent having to obtain parliamentary approvalfor the change to the Irish and Portuguese loans.
That manners out giving the two countries a precautionarycredit line beneath the European Stability Mechanism (ESM) - aprecondition for drumming the European Central Bank's bond-buyingprogramme - or fluctuating the programmes without giving newfunds.
It moreover manners out a new programme altogether, anotherproposal done in the paper.
Ireland has started to steadily lapse to capital markets andplans to launch a new 10-year benchmark union before resumingregular union auctions after that this year.
The nation lifted a entertain of its long-term debt targetfor the year in January when it sole more than 2.5 billion eurosof five-year debt.
Portugal dipped back in the marketplace in January with a 5-yearbond is to initial time since its 2011 bailout. It is expectedto try a 10-year union after that in the year.