Overhaul of €31bn Anglo notes ‘key’

An overhaul of the repayment of billions of euro in loans used to bail out Anglo Irish Bank is the most urgent financial issue facing the Government, Tánaiste Eamon Gilmore said.

The Labour leader said the €31bn in promissory notes used to bail out Anglo was a “bum deal” agreed by the last government.

His comments come as the Government moves to renegotiate the IOUs or note repayments with the support of European countries, while hosting the EU presidency this year.