Crunch time for a deal on promissory notes
The government can't promise that a deal would make the next budget much easier, but it would help our exit from the bailout, writes Cliff Taylor.
Perhaps by this time next week we will have a clearer indication of whether a deal is on - and if so what kind of deal it might be. On Thursday in Frankfurt, Irish Central Bank governor Patrick Honohan may bring a revised proposal to the ECB council to restructure the €28 billion that Ireland owes under the infamous promissory notes. This money, used to bail out Anglo Irish Bank and Irish Nationwide, is due...
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