Noonan didn’t ‘win’ promissory deal

The former special economic adviser to Brian Lenihan, Alan Ahearne, believes that the much vaunted successes of Finance Minster Micheal Noonan in renegotiating the Anglo promissory notes were simply part of the bailout programme.

Noonan didn’t ‘win’ promissory deal

Speaking in the aftermath of Mr Noonan’s third austerity budget, Dr Ahearne praised Mr Noonan for getting the cuts through the Dáil, but said the rewards for hitting the troika targets have always been built into the bailout programme.

“They’ve worked the plan, there was always going to be rewards for virtuous behaviour. You see that, they steadfastly stuck to the plan, they hit the targets. No showboating — not like in Greece — just get the targets and that is the right way to deal with the troika, because then you get the rewards.

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