COMMENT: what now for the promissory note

Reports today suggest that the European Central Bank has rejected the government's proposal on restructuring Ireland's promissory note. Cliff Taylor looks at what happens now.

26th January, 2013
'Key questions include the length of time that the Central Bank would be obliged to hold the bonds.'

It is clear that we are facing into a hectic few weeks of talk, reports and speculation on the negotiations between Ireland and Europe. Hopefully we will soon get firm information about what is actually on the table.

Today there were two reports worth noting.

First, the Irish Times reported that the government was putting in place a credit line with the IMF in case talks on a deal with Europe on our bank debt...

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