Tánaiste: Time running out to agree promissory note deal

Tánaiste Eamon Gilmore said today that talks on renegotiating the payment of the Anglo Irish Bank promissory notes are now at a critical stage.

Tánaiste: Time running out to agree promissory note deal

Tánaiste Eamon Gilmore said today that talks on renegotiating the payment of the Anglo Irish Bank promissory notes are now at a critical stage.

The Government is due to pay another €3.1bn instalment by the end of the March unless a deal is reached with the European Central Bank.

Minister Gilmore said that last night's indications that Ireland will be allowed extend the repayment schedule on loans it received from the EFSF is a welcome development.

He said time is running out, however.

"We are now at a critical stage of the discussions with the ECB on the promissory note," he said.

"Time is running out on the period of time that we have to conclude those discussions, and yesterday's decision is something that's very welcome."

Junior Finance Minister Brian Hayes said that if a deal is agreed, Ireland could be in line to save billions of euro on our bailout costs.

"Until there's a very thorough technical assessment of the total involved, it's impossible to give an exact figure, but we're talking in the billions," he said.

"Until that is known, probably in the March period, I'm not going to speculate.

"The bigger prize, quite frankly, is if by stretching the payments back and stretching the maturity, I think it will very much help our position in terms of floating the debt position on the international money markets."

more courts articles

Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman

More in this section

Pile or group of multi colored and different sizes of colourful foil wrapped chocolate easter eggs in pink, blue, and gold. Larg Young sisters donate hundreds of Easter eggs to children's hospital
Mother and daughters killed in Mayo crash named locally, as husband returns to Ireland 'Their smiles lit up the room': Tributes paid to mother and daughters killed in Mayo crash
Gardaí hoping to reunite lost 'Dad' urn with owner Gardaí hoping to reunite lost 'Dad' urn with owner
War_map
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited