Noonan hopeful of deal on promissory notes by autumn

Finance Minister Michael Noonan has said that he hopes for a deal to be struck by the autumn on the issue of the Anglo promissory notes.

Central Bank Governor Patrick Honohan met yesterday with the Governing Council of the European Central Bank amid speculation that the Government will be able to delay a €3.1bn Anglo debt payment which falls due at the end of the month.

However speaking today Minister Noonan said the Government is hopeful that a deal can be reached on the entire 10-year, €31bn promissory note payment.

"The bigger issue, which is a matter of more concern, is the other €27bn that we hope to get a satisfactory arrangement on by the second half of the year," he said.

"We won't be pushing that - there are timing issues and next autumn would be the time which would be most advantageous to us."