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Noonan still optimistic on Notes deal

Monday, February 04 14:18:53

Talks on Ireland's legacy Anglo Irish Promissory Note are ongoing and "going well", Finance Minister, Michael Noonan said today.

He said the Government will "in due course" get "an appropriate deal" on the debt, an annual instalment of E3.1bn of which is due next month.

Speaking in Limerick today, Mr Noonan said negotiations with the European Central Bank were "proceeding satisfactorily".

"I am about where I am in the negotiations where I thought I would be, looking forward from Christmas. We are very appreciative of the fact that the ECB have engaged with us on the issues. They are fully aware that the issue is around the sustainability of the Irish debt position, but at the same time we recognise their legal mandate and we recognise their independence," he said.

"We feel we will get - in due course - an appropriate deal on the promissory note but people shouldn't be trying to bring the thing forward to the present."