Anglo deal pushed out until March

The issue of where Ireland might get the €31bn to replace the money it put into its banks was still up in the air as the new ESM rescue fund was officially launched in Luxembourg yesterday.

Meanwhile, Finance Minister Michael Noonan pushed the date for a deal on the Anglo promissory notes out to March.

Asked whether the fund would provide money for countries to cover existing legacy bank debts, ESM managing director, Klaus Regling was short and to the point. “It has not been discussed in any EU meeting so far.”