The Government’s announced it won’t have to pay the Promissory note for the former Anglo Irish Bank this weekend – and will settle it with a Government bond instead.
But Michael Noonan’s warned that talks need to continue to find a long-term solution to the debt at I-B-R-C.
And he says the decision to allow us to make this payment with a bond rather than cash will improve our debt position this year and offer flexibility on a return to the markets.
Donegal North-East Deputy, Joe McHugh says it’s a significant announcement:
But, responding to the announcement Donegal South-West Deputy, Pearse Doherty said that the government could not claim pushing the Anglo debt down the road as a victory.
He said the fact that there was any movement on the promissory notes was due to pressure applied to the government by Sinn Fein and others:
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