Ireland still some way off deal on Anglo €31bn IOUs

Finance Minister Michael Noonan indicated that Ireland is still quite a long way off getting a deal to cut the cost of the €31bn promissory notes for the defunct Anglo Irish Bank.

While he would not rule in or out the possibility of postponing the €3.1bn due at the end of the month, he said there was no agreement yet on what option would be the best one to pursue in cutting the cost of the IOUs.

While the Government had its preference for the way that the complex promissory notes deal would be restructured, the EU/IMF policy paper was not yet complete.