Thompson,
According to this article they'll be paying 6.7% on €85 bn or about €5.7 bn a year.

EU finance ministers meet amid row over Irish interest rate

The only good thing you could say about that is it could have been worse...at least they're not paying 9%, but its still pretty horrible.

If there is a forthcoming general election it will be interesting to see whether the various parties will actually spell out the alternatives I've listed above - whoever is in power will have to make some horrible decisions.