Saturday August 15, 2020

Promissory notes deal: the simple guide

Are you confused by what Minister for Finance Michael Noonan announced in the Dáil today. Here is a simple guide to the deal on promissory notes.

29th March, 2012
2
The sign may be gone but the ghost of Anglo lives on in the promissory notes.

Are you confused by what Minister for Finance Michael Noonan announced in the Dáil today? Here is a simple guide to the deal on promissory notes:

* The second instalment of €3.06bn in cash due under the promissory notes arrangement was due on 31 March 2012.

* This was basically a very big IOU from the Government to the old Anglo Irish Bank, now called IBRC so as to pay for its rescue.

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