Monday 28 May 2018

Taoiseach in New York reiterates no losses on sovereign bondholders

Independent.ie reporters

TAOISEACH Enda Kenny has reiterated the Government’s plans not to impose losses on the country’s sovereign bondholders but talks are ongoing for a reduction on the interest on Anglo Irish Bank debt.

There are also talks between the Government and the EU/IMF/ECB on a longer repayment period for the €30bn promissory note/IOU debt in Anglo, now known as Irish Bank Resolution Corporation.

The interest rate on this debt is over 8pc and will cost taxpayers €3bn per annum over the next 10 year under the current plans.

“It’s very clear that Ireland will not seek any write-down,” Mr Kenny told Bloomberg TV in an interview.

“We’ll pay our dues in full and on time.”

Earlier Minister for Finance Michael Noonan said any concessions agreed for Greece could help our negotiations.

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