Kenny refuses to reveal nature of 'sensitive' talks on promissory notes

Taoiseach Enda Kenny has refused to reveal details of ongoing talks about Ireland’s banking debts because he said they are "too sensitive".

The Taoiseach would not confirm whether current discussions with European and IMF debt masters were about seeking a cut in the taxpayer-saddled Anglo Irish Bank debts or a request for more time to spread out the repayments.

“I’m not going to tell you the particular issues or the nature of the discussions that are taking place because these negotiations are far too sensitive and far too technical and very complex,” said Mr Kenny.

However, he hinted that a longer period of time to repay the so-called promissory notes – a Government promise to pay the debts – would be particularly helpful.

“We’ve made it clear that a longer period of time at a lower interest rate would be of enormous importance to Ireland both in terms of our deficit and our capacity to pay back our debts,” he said.

Negotiations are under way within the troika – the IMF, European Commission and European Central Bank – to make adjustments to Ireland’s repayment plans.

The country must pay a total €30.6bn of promissory notes plus interest to the Central Bank on behalf of the former Anglo Irish Bank over the next 20 years.

It is due to pay its next chunk of €3.1bn on March 31 and opposition TDs have called for the Government to default on the loan deal.

However, Mr Kenny has continuously insisted Ireland should not be prepared to be labelled defaulters.

“This country has always met its commitments and in some cases we’ve exceeded those commitments,” the Taoiseach said.

Meanwhile, Independent TD Shane Ross slammed recent comments from European Commission vice president Olli Rehn, who ruled out a delay in Ireland’s next due payment of €3.1bn at the end of the month.

“When Commissioner Rehn was asked about the promissory notes he embarked on some kind of lecture,” said Mr Ross.

“I think the Taoiseach should be telling Commissioner Rehn that we are not given to taking lectures from him.”

Mr Rehn quoted the Latin phrase “pacta sunt servanda”, which means respect your commitments and obligations.

The Dublin South TD described the remarks as patronising and said the Taoiseach should not stand for it.

Sinn Féin President and Louth TD Gerry Adams, speaking during Leaders Questions in the Dáil this morning, accused the government of acquiescing at every turn to the EU and of expecting Irish citizens to pay for its folly.

Sinn Féin President Gerry Adams meanwhile pointed out that the €3.1bn promissory note to be paid on March 31 is “the equivalent of 19 years’ worth of household charges".

"It is €3.1bn which could create jobs and stop our young people from immigrating," Mr Adams said in the Dáil, accusing the Taoiseach of defaulting on his election commitments.

“Taosieach you need to say it very loudly and very clearly – we cannot and will not pay this €3.1bn and then you will see a real negotiation," Mr Adams said.