Noonan confident ESM will take on huge portion of Irish bank debt - report

Finance Minister Michael Noonan has said no rules were broken in the deal on the Anglo promissory note, and that it any case it was too late now to undo the deal.

Mr Noonan told Bloomberg that the "ship has left the port" in relation to any undoing of the late-night liquidation of the IBRC on Wednesday February 7.

He also said he was still extremely confident that the European Stability Mechanism would take on a significant chunk of Ireland's bank debts - Bloomberg reports as much as €30bn - saying "the team owes us".

“While some of it was our own fault, a lot of the action was taken at the direction of the European Central Bank to prevent contagion spreading to the European banking system,” Noonan told Bloomberg.

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