Noonan: Deal on Anglo ‘likely’ by end of March

A deal on overhauling Ireland’s Anglo promissory note is “likely” to be agreed before the end of March, Finance Minister Michael Noonan said.

He said the Government was working hard to secure a deal on Irish bank debt with European partners, which includes changing the repayment of €30bn in loans issued to wind up Anglo Irish Bank.

As part of the Anglo IOU or promissory note, Ireland is scheduled to pay the next €3.1bn instalment of the repayments to the European Central Bank on Mar 31. Several ministers have said in recent weeks that this payment will not be made.