Hayes confident ahead of promissory note 'date with destiny'

on 04/01/2013 10:09:01

Junior Finance Minister Brian Hayes says that the Government is confident a deal can be done on the Anglo promissory note by the March 31 "date with destiny".

It follows comments from Finance Minister Michael Noonan yesterday, when he said that the government had budgeted for the payment of the next instalment, if a deal could not be reached by the deadline.

However, he said that reasonable progress is being made in the Frankfurt talks.

Junior Minister Brian Hayes believes the European Central Bank is aware of how important this is.

"I'm very confident that their understanding of the issue here in Ireland and the significance of this issue, and the necessity for us to restructure the promissory note, they understand that well," he said.

"The Minister for Finance is confident, the Government is confident, that we can get this deal before March 31, so that ultimately our debt position will be more sustainable in the long run."