Discussions on the repayment of the promissory note were reaching a “critical stage”, Tánaiste Eamon Gilmore said today.
The Government is negotiating to have the life of the 10-year €30.6 billion promissory note from the European Central Bank extended to reduce the €3.1 billion annual repayments, the next of which falls due at the end of March.
Speaking in Brussels this morning in advance of a meeting of European foreign affairs ministers, Mr Gilmore said: “We’re at a critical stage now in these discussions. There is a deadline looming, the end of March, and we have been intensifying our efforts.”
He said he had spoken to a number of European leaders at last week’s European Union-Latin America summit, including the prime ministers of France, Germany and Finland.
“I think there is broad political support across European Union capitals for what Ireland is trying to achieve here, but we do need to conclude this issue and time is now running out.”
He was speaking after businessman David Hall lost his High Court challenge to the State's decision to pay promissory notes under which €31 billion, so far, has been paid in aid of Irish financial institutions.
