Promissory notes talks under way

THE TAOISEACH said “serious technical discussions” were under way at EU and IMF level about negotiating an alternative to the terms of promissory notes issued to bail out Anglo Irish Bank.

“I will not go beyond that except to say that there is an intense level of discussion about the negotiation of an alternative to the promissory notes,” Enda Kenny added.

Mr Kenny was replying to Sinn Féin leader Gerry Adams who said some €3.1 billion was due to be paid “to a toxic criminal bank, namely Anglo Irish Bank, in March”.

Mr Adams added that some €3.8 billion in cuts would affect schools, single mothers, pensioners, the disabled, students, homeowners and those in community employment schemes.

He said people wanted money invested in job creation and not put into bad banks or unguaranteed bondholders.

Mr Kenny said the Government had decided to sort out the problems of the public finances and put the country in order so the economy could grow.

He added that every worker who received a pay cheque in January had seen no change from what had been issued in December because there had been no alteration in income tax levels, rates or bands in line with a Government commitment.

“I agree there are issues in respect of planning insofar as charges and all that are concerned,” he added, “but we have given the people the opportunity and the choice to plan.”