FT backs Ireland on promissory notes

The Financial Times newspaper has backed Ireland's case for a restructuring of its promissory note debt repayments.

15th March, 2012
FT backs Ireland on promissory notes
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The Financial Times newspaper has backed Ireland's case for a restructuring of its promissory note debt repayments.

In its editorial today, the influential newspaper said the European Union and the European Central Bank should accept Dublin's arguments in favour of longer maturities and lower interest rates on the debt.

"Dublin is right on the merits," it said. Ireland's austerity programme is more likely to succeed if it's allowed to service debt when the economy is...

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