Friday April 3, 2020

A deal won't solve everything

Striking a bargain on the promissory notes would be a big help, but it will not be a panacea for Ireland's shaky prospects of growth, writes Conall MacCoille.

3rd February, 2013
Few harbour realistic expectations that the ECB will write down the €31 billion principal. Photo: Bloomberg

Reports that the European Central Bank (ECB) has rejected proposals to restructure payments to the former Anglo Irish Bank (IBRC) have stoked fears that the government will be forced to stump up another €3.1 billion in March. Failure to reach agreement may be seen as a political defeat. But the political risks are probably greater than the economic implications.

Far from an exorbitant interest cost, the notorious promissory notes actually represent the most cheaply funded...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 3 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago