'No deal tonight' on Anglo promissory notes

Despite earlier indications, it is now thought a deal on the Anglo Irish Bank promissory notes may not be rubberstamped tonight.

Intensive negotiations are continuing in Frankfurt to secure a deal, but it has been reported that the ECB are looking for more time to consider the Irish proposals.

IBRC chairman Alan Dukes stated that the board of the bank has been stood down and designated persons from KPMG have taken control of the bank.

It would allow a new long term bond to be issued for the promissory notes and would mean the €3.1bn due every year until 2023 would not have to be paid.

Waiting news whether Dail sits late to liquidate Anglo.Our motion on Anglo has 90 minutes to go starting in 45 minutes.What will they say?

— Shane Ross (@Ross_Shane1) February 6, 2013