Ireland sets out debt deferment plan

The Irish Government said on the 29 March 2012 that it had secured a deal with the European Central Bank to defer a €3.06bn cash payment due on its banking debt in an agreement it hoped will ease its return to international bonds markets in late 2013.

Michael Noonan, Ireland’s finance minister, said that the government would settle the payment, due on 31 March 2012, through the delivery of a long government bond rather than use its cash reserves.

Irish Times, 30.3.12: Government wins backing on €3.06bn payment http://www.irishtimes.com/newspaper/breaking/2012/0330/breaking3.html

Irish Times, 29.3.12: Anglo promissory note payment to be deferred http://www.irishtimes.com/newspaper/breaking/2012/0329/breaking48.html

ESO: Background information: Ireland referendum on EU pact to be held on 31 May http://www.europeansources.info/record/ireland-referendum-on-eu-pact-to-be-held-on-31-may/

ESO: Background information: Rehn rebukes Dublin over bid to defer debt / Dublin confident of ECB deal to defer payment http://www.europeansources.info/record/rehn-rebukes-dublin-over-bid-to-defer-debt-dublin-confident-of-ecb-deal-to-defer-payment/

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