Dáil Éireann Debate, Tuesday - 27 November 2012
254. Deputy Brendan Griffin asked the Minister for Finance the position regarding the impending repayment of Anglo promissory notes; his views on whether will secure a positive outcome on this matter; the monetary and percentage of GDP savings he hopes to achieve; when he expects to have an agreement; and if he will make a statement on the matter. [52936/12]
View answerAs the Deputy is aware, the next instalment of the IBRC Promissory Note is scheduled for the end of March 2013. The Irish Government has been working extremely hard to secure a deal on the Irish bank debt and detailed work will continue to ensure that the positive moves in Europe are harnessed to maximise the benefit to the Irish taxpayer. A significant item on the agenda is the issue of the promissory notes. The discussions are considering all options in relation to the promissory notes (in terms of the source of funding, the duration of the notes, the interest rate applicable etc.) as well as potential avenues for the wider bank debt deal and the impact of these options on IBRC. This on-going work is one of the Government’s key priorities.
The terms sought by the Government are those which achieve the best possible outcome on behalf of the Irish taxpayer. It is not possible to give guidance on the timing or potential outcome of the discussions as to do so could impede our ability to achieve the best possible results for the Irish taxpayer, but every effort is being made to expedite the on-going process. I have previously stated that I am working to try and achieve a solution before the next scheduled instalment on the Promissory Note scheduled for next March.
