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Dublin: 11 °C Sunday 19 May, 2013

Gilmore: This is a critical time for discussion on promissory notes

The Tánaiste said that the future of the Irish government is a matter for the Irish government and the Irish people.

Image: Tanáiste Eamon Gilmore via European Council TV

THIS IS A CRITICAL time for discussion on the payment of the promissory notes, the Tánaiste has said.

The government is due to repay €3.06 billion to the Central Bank of Ireland, via the former Anglo Irish Bank, in March. However, it is seeking to replace the note with a long-term sovereign bond instead.

Arriving for talks in Brussels today, the Tánaiste Eamon Gilmore said:

This is a critical period of time for the discussion on the payment of the promissory notes and what the Government is seeking to do is secure the best deal for Ireland and the Irish tax payer.

He added that the future of the Irish government “is a matter for the Irish government and the Irish people”.

Europe

He made the comments while arriving for the General Affairs Council meeting which he is chairing in Brussels today.  This meeting is on the issues to be considered at the European Council meeting at the end of this week.

Deputy Gilmore said that on the agenda for today’s meeting is the Multi-annual Financial Framework, and that he is having a meeting this morning with negotiators from the European Parliament because the role of the European Parliament is very important in this framework.

He added that whether or not agreement is reached by the end of the week will depend on the specific proposals that are put by President Herman Van Rompuy, and he is meeting with him for lunch today on the issue.

The European Council meeting will also deal with the issue of trade and that is one of the main items on the agenda, said Gilmore. He added that the priority for the Irish presidency is that it negotiates trade agreements with a number of the European Union’s strategic partners.

The estimate is that the negotiation of the trade agreement could add about two per cent to the GDP of the European economy and have the potential to create about 2 million jobs. So from a presidency point of view because we have put such an emphasis on work that will generate employment and grow economy, trade agreements are very important.

Read: Everything you need to know about the promissory notes, but were afraid to ask>

Read: Ireland still has 39 per cent chance of defaulting, says Government’s budget adviser>

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Comments (52 Comments)

  • Ryan'O 04/02/13 #

    Eamo is setting up for a break up :)

    Reply
    • Absolutely Just been listening to Pat Kenny ….I know I know but it is Monday .. Any way he had Pearse Doherty and Aodhán Ó Ríordáin ( I think) but they all speak with forked tongues and tripe ,AND I got that impression too that Labour are absolutely setting themselves up to do the dramatic Miss Piggy walk out.

      Reply
    • I wonder if it’s a case of “too little,too late” or can the party be salvaged.
      labour really lost the confidence to the point of revulsion of the electorate .
      Would gilmore and his crew be that low that they would sacrifice the party for a fat pension.

      Reply
    • It’s all coming to fruition. By staking everything on a deal being done, labour are covering all the bases. I’m nearly hoping that a deal isn’t done, just to see how our great leaders cope with true adversity.

      Reply
    • Rodrigo it will be the people that face that hardship,our leaders are well insulated from all forms of hardship.

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    • Ryan'O 04/02/13 #

      Eamo has no faith in his own words. He knows the march payment will go ahead, covering his ar$e by pulling out at the very last possible minute will save his party but it will be in its knees for decades to come, he doesn’t care though he will have his pension, and all the time in the world to enjoy it! Leaving the country in $hit in his wake.

      Reply
    • @Ryan’O.
      Looks like gilmore is actually smelling the beans here.He may have a chance to save the party and posture it for the next election .
      He has rocked the party to the core and the grassroot members are going mental.

      Reply
    • Yeah if the Green party had done that with Cowen & co they would still exist today

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    • Ryan'O 04/02/13 #

      Maybe…..I think he’ll take his money and run. Maybe join the talking puppets in Europe. The young members of the LABridore party might have a chance next GE. But only if he pulls out if the payments are made….can we take his word that he will, or will there be more bluster after the payment with a continuos frankfurts way. Who knows but leaving till the eleventh hour is cutting it fine.

      Reply
    • Norman. Thousands of people are at rock bottom anyway. It’ll make no difference to them. However if we default, Gilmore and his wealthy cronies will start to suffer hardship too. The higher up the ladder you are, then the further you’re gonna fall.

      Reply
    • I’d like to think so, but somehow or the other they will be cushioned.

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  • The Irish people don’t get a say until 2016 in who we want to govern us. But considering the destruction being inflicted on our society,a referendum should be called on the payment of this “Bank Debt” along with the so called “Bailout”.Someone wants to destroy mine and my childrens future,they should at least ask my opinion on the matter.

    Reply
  • General Election on the horizon ? But don’t worry ! Gilmore and co., will have their ministerial pensions .Sorted !

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    • Hi Eileen.The sad part is that it will be over the carcass of labour.
      I can’t see kenny allowing gilmore to put fg into bad light.
      Looks like a turf war.

      Reply
    • Ryan'O 04/02/13 #

      That was the plan all along Eileen. I’d say even Tbag Edna wants out at this stage. He’s safer in Europe with a job as a nodding dog.

      Reply
    • I just hope Irish people will avoid voting for FG/FF/Labour , all they care about is the european union and how they can please their buddies in the Banks , its a shambles what this country has turned into , I cant wait for them to start calling at my door , I already told Mick Martin off a few months back , will do the same to the rest of them , they’re all extremist europhiles who have no interest in the welfare of native Irish people .

      Reply
    • People need to vote Independant,a vote for FG/FF or Lab just decides who gets to kick the people.

      Reply
    • Bye bye Labour , you are going going gone !

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    • Yes it will be a turf war and the pity is that the ordinary people are caught in the middle,yet they will get their pensions..This promissory note should not be paid ,what difference will it make to us who are struggling àlready . It is high time for this government to take responsibility for their efforts.

      Reply
  • What Eamon really means is; We should have stayed in opposition as the largest party of the people, staying true to our word and principles..
    Instead for the sake of us few at the top who so desperately wanted a pension and a spin on the gravy train, we destroyed our party and country to feather our nests..

    Reply
  • Just get through this month Eamo and your pension will be sorted, Election before Paddy’s day anybody?

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  • Gilmore will have his 30 pieces of silver/pension before the note is due. At that stage, for the good of his party and our nation, he should collapse this vichy government

    Reply
  • The walk out only after the pension kicked in . God we are tick

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  • Niall 04/02/13 #

    Apparently it’s not ok to tell the truth and call Gilmore a lying bas*ard.

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  • We should not be paying this, if the so called deal is to convert it into a long term loan then that’s it for our kids futures in Ireland as they will have to leave. Current muppets don’t get it or don’t care….

    Reply
  • “Multi-annual Financial Framework” – Is this another new BS term? I think they reckon if they just keep pumping out rubbish terms and spouting economic jargon they’ll keep the common man and woman spinning with confusion. Unfortunately it seems to be working.

    Reply
    • Spot on.
      The only discussion is wether we pay someones bill with cash or on the card.
      Either way we’re still paying.

      Reply
    • “The Multiannual Financial Framework (or MFF) of the European Union is a seven-year framework regulating its annual budget”. People actually get paid to come up with a new buzz phrase and acronym for “budget”.

      Reply
    • The Catholic Church and the legal profession love to litter their language with obscure jargon too.
      It’s all about hiding the real truth about how the common man is being screwed over in the interests of their “betters”
      A pox on all their houses.

      Reply
  • The problem is simple. They are all a pack of f**king multimillionaire unpatriotic liars. That is all.

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  • In there isn’t a satisfactory deal on the promissory note then Croke Park 2 will fail and the government will fall.

    Reply
  • It’s Labour’s way or I’m taking my ball home and nobody is playing football

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  • Is Eamonn starting to smell the coffee?, Talk about closing the stable door after the horse has bolted. Jesus wept.

    Reply
  • I think public sector workers if an election is called will give this government a bigger kicking than any other group in society.

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  • I know Gilmore will have his big pension and will be alright regardless when he is ousted as leader and labour are wiped out but I hope his name becomes a dirty word amongst Labour supporters for decades to come. Cant stand the creep… as bad as FG are at least you know where you stand with them… they dont try to hide the fact that they are a pack of two faced, lying, eurocrats who will do anything to save face in Europe and protect the well heeled business interests that they serve. Rant over time for a cuppa….

    Reply
  • I only hope Gilmore’s constituents (especially those who voted him in) see this machiavellian monster for what he is. My dear old Labour party, conceived from the injustices of inequality, fatally wounded by a self serving leadership………. Had the party stuck to its principles and not slept with the enemy, they could have been the FIRST real opposition in the history of this rather sleepy post catholic democracy.

    Reply
    • Ryan'O 04/02/13 #

      I don’t know William, sleeping with the enemy is fine if you stick to your principles and promises. Sadly eamo forgot all that when he slipped in, really turning into a soft FG loving party.

      Reply
  • Nurses and Gardai. Please daub your doors with red paint when the election campaign starts. We’ll have a fair idea which doors are friendly then.

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  • Goebbels Gilmore is just bluffing and his financial silk and gold threaded pension parachute will save him from fiscal damage and walk away into the champagne socialist sunset and a cushy job in europe.

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  • Eamo has changed tack. its now the best possible deal for Ireland. Noonan said the same on Six One they are preparing us all for a very small concession of the promissory note….game changer my bollox june seems such a long time ago…gilmore will head into the sunset with a nice pension, the missus set up in a a high earning position in another quango and daughter getting plenty of legal work…noonan another to retire,as will kenny and the rest of the old fg guard..dont be surprised we end up with ff,sf and labour government with rosin shorthall as labour leader…the only labour politician that walked away from the spin

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  • Judas Iscariot Gilmore, why is it so difficult for you to tell Europe we are broke,have no money, can’t pay and most of all we won’t pay. Why not treat Merkel the same way you treat the Irish public, we only pay your wages,flights all over the world to indulge in your favourite pastime licking arses. 54 days and counting.

    Reply
  • Gilmore leading the Labour party out of the coalition would be a rather heroic move for democracy.

    He might even get himself re-elected for having the courage to hand the tiller back to the people through a general election.

    This seems like such the right thing to do.

    Reply

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