Deal on Anglo notes nearing completion

A deal on the Anglo Irish Bank promissory note could be reached as early as mid-May.

RTÉ News reported sources saying that the European Financial Stability Facility is the favoured option to replace the promissory notes on more favourable terms.

“The broad idea is to use the EFSF to replace the promissory notes, to try to use it to further strengthen the Irish banking sector so that Irish banks can regain market funding under better conditions,” an EU source was quoted as saying.