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Promissory notes

Doherty asks Noonan to have "frank and open debate" on promissory notes

The Sinn Féin finance spokesperson said that he wants Minister Noonan to ‘come clean’ on the issue and appear before the committee as soon as possible.

FINANCE MINISTER MICHAEL Nooonan has been asked to appear before the Dáil’s Finance Committee to speak about promissory notes.

Sinn Féin’s finance spokesperson Pearse Doherty made the call today, saying he wanted Minister Noonan to appear before the committee as soon as possible to discuss this week’s decision on the Anglo-Irish promissory note and its implications for Ireland.

He said that he has written today to the chair and clerk of the committee requesting that Minister Noonan be called to the committee as soon as possible.

“This week saw reports that the ECB had rejected preferred Ireland’s proposal on the promissory note issue,” said Doherty.

I am now calling on Minister Noonan to appear before the Finance Committee so we can have a frank and open debate about the status of negotiations and to explain what exactly the government has achieved.

He said that Sinn Féin wants to see a sustainable deal hammered out on the former Anglo-Irish bank’s debt.

“The public cannot be kept in the dark anymore,” said Doherty. “The Minister needs to come before the Committee and lay out the current situation and his plans to progress the issue.”

Yesterday, both Transport Minister Leo Varadkar and Communications Minister Pat Rabbitte insisted that the talks with the European Central Bank to reduce Ireland’s debt will continue. No agreement has been made on the issue, with a report saying the ECB has ruled out a key Irish proposal.

The Government is seeking a deal where the cost of the promissory notes will be written down. Under the current deal, the State is to pay €3.o6 billion every year until 2023, with repayments decreasing until 2031. The next payment is due on 31 March.

Read: No agreement but bank debt deal talks will continue, Ministers insist

Open thread: What do you want to know about the promissory notes issue?

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