Sunday February 23, 2020

Noonan told by troika to keep mum on using Anglo debt deal to reduce cutbacks

Former minister for finance used proceeds from Anglo Irish Bank promissory deal to reduce the 2014 budget cuts from €3.1 billion to €2.5 billion

Michael Brennan

Political Editor

@obraonain
30th December, 2018
Brendan Howlin and Michael Noonan felt that the €3.1 billion cutbacks target would be too much austerity to bear Pic: Collins

Former minister for finance Michael Noonan was told by the troika to keep quiet about how he had used savings from the Anglo debt deal to reduce budget cutbacks.

New cabinet records reveal the wrangling with the three members of the troika - the European Commission, the European Central Bank and the IMF – before the state exited the bailout programme five years ago.

Noonan managed to use some of the proceeds of the Anglo...

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