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Eamon Gilmore Laura Hutton/Photocall Ireland
Promissory notes

'No deadline' for deal on promissory notes - Gilmore

The Tánaiste said discussions with the troika are ongoing as the Government seeks to secure an agreement.

THE GOVERNMENT IS not working towards any particular deadline in negotiations with the troika over the promissory note payments of Anglo Irish Bank debt, the Tánaiste has said.

Eamon Gilmore said the Government was working to secure the best deal for Irish taxpayers, but would not be aiming at finalising an agreement by a specific date.

Ireland is due to make a payment of €3.1billion in promissory note debt on March 31.

Gilmore told RTÉ’s This Week that discussions were currently under way, but said he could not give details. “I don’t propose to conduct those negotiations in public,” he said.

We have been involved in discussions for some time with the troika about reengineering the deal that was agreed with regard to the banks. That work is continuing [...] There isn’t a time deadline. The Government is most anxious to secure the best possible deal for the Irish taxpayer.

Gilmore also played down reports of tensions within the Cabinet over comments by Minister for Social Protection Joan Burton, who suggested that it would be easier to pass the referendum on the fiscal treaty if Ireland could secure a deal on the promissory notes.

He said a “very big mountain has been made of a very small molehill” after Burton’s comments.

More: Honohan set to make case to ECB for deal on Anglo promissory notes>

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