Johnny Fallon: After showing a bit of backbone, it’s time now for the Government to stand and deliver on debt deal
AS CHRISTMAS approaches and we settle in to the aftermath of the Budget, it seems that for once we might have something to look forward to in the New Year. Pat Rabbitte made everyone sit up and take notice by suggesting that Ireland would not be repaying the promissory notes owed on Anglo Irish Bank, come next March.
All over the country, people wondered: is this it? Are we finally playing hardball? Is Ireland going to take the first steps toward forcing the EU to begin the solution that not only Ireland and the EU needs, but also the world?
We can but hope. Alas, experience of this government and its predecessor would mean that we should be cautious. Rabbitte had hardly uttered the words when Central Bank governor Patrick Honohan was saying, that of course the promissory notes would be paid, just not yet, we will pay them over a longer time and sounding a lot more reasonable.