Howlin: Government hoping to conclude promissory note talks this year

Howlin: Government hoping to conclude promissory note talks this year

Minister for Public Expenditure and Reform Brendan Howlin said today that the Government hopes to conclude the negotiations on restructuring the outstanding debt from the Anglo promissory notes by the end of the year.

Minister Howlin said that talks are continuing with the Troika in a bid to restructure the remaining €27bn worth of debt.

Yesterday, the Government confirmed that it has negotiated a deferral on the next €3.1bn instalment of the debt, due for payment on Saturday.

It comes as Eurozone finance ministers meet in Copenhagen today for talks on increasing the European bailout fund.

Minister Howlin said that a better deal is needed on the rest of Ireland's promissory note debt and he hopes today's meeting will further that cause.

"Part of the negotiations there, I suppose the core of negotiations there, are to increase the overall firewall that is available to European countries," he said.

"In the context of that being strengthened, we are in negotiations with the Troika to look at the residual €27bn of promissory notes due."

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