Ireland promissory note deal in pipeline

Plenty of talk and negotiations that a deal is going to get done tonight on Ireland’s promissory note. Currently financing this note costs EU3.2bln a year. Talk of liquidating Anglo and transferring its assets to NAMA, then replacing the note with a 40 year bond which would require smaller payments each year (possibly circa 1bln), but not actually reducing the principal owed. So debt restructuring not forgiveness. I will keep an eye as word is a deal may get done as early as tonight.

http://www.rte.ie/news/2013/0206/366521-ecb-promissory-note-anglo/

Advertisements
This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s