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Wednesday 17 September 2014

Kenny confident of striking Anglo deal

Published 30/01/2013 | 05:00

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Taoiseach Enda Kenny says he is still confident the Government will strike a deal on the repayments of the Anglo Irish Bank debt.

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But Mr Kenny is still refusing to say how much debt relief the Coalition is looking to get out of any deal.

And the Cabinet only had a "brief discussion" on the pressing bank debt issue yesterday.

The European Central Bank is understood to have rejected the Government's proposal to roll the repayments on the promissory note out over 40 years.

The next repayment of €3.1bn is due at the end of March.

Fianna Fail leader Micheal Martin said at this stage "transparency" was needed.

Mr Kenny said the promissory note repayment was "not an easy situation to unravel" and there were "significant challenges".

"I am confident we will have an agreement and conclusion on this before the next payment is due," he said.

Finance Minister Michael Noonan briefed his colleagues on the latest review of the bailout by the IMF- EU team, which started yesterday.

Ministers had what was described as a "brief discussion" on the bank debt question. "It wasn't extensive," a government spokesman said.

Irish Independent

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