Gilmore 'hopeful for an outcome on' Promissory Notes
Tánaiste Eamon Gilmore has defended the Government's progress on the issue of Promissory Notes, saying that he hopes to have a deal struck by March.
The Government is currently in negotiations with the European Central Bank, in an effort to secure a new arrangement on the payment of taxpayer's money to Anglo Irish Bank.
The Government is due to pay over €3.1bn to the now-defunct bank in March of this year, something which the Tánaiste says he is reluctant to see happen.
Mr Gilmore said: "We made no secret of the fact at the time of the last election that a new Government would renegotiate the terms of that agreement and we have been doing that.
"We have secured a reduction in the interest rate. We are in discussions with the European Central Bank about that and we are hopeful for an outcome on that issue before the next tranche of that payment is due to be made in March."
