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

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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Large public capital projects could be run through an “independent panel of international experts” as part of public spending reforms, according to the Department of Public Expenditure

Daniel Murray | 3 months ago

The contract covers the supply of office stationery to a range of government bodies and agencies, including the HSE, universities, hospitals, councils and schools

Michael Brennan | 3 months ago

Party would launch the ‘largest public house building programme that Ireland has ever seen’ and a national health service

Aiden Corkery | 3 months ago