No legacy bank-debt deal this summer: Kenny

on 14/02/2013 13:30:50

There will be no deal on Ireland's legacy bank debt this summer, the Taoiseach has said.

The Government said it was still working on a deal with Europe after last week's scrapping of the promissory note payments.

Enda Kenny said negotiations were centred on proposals for a longer time in which to pay back loans used to recapitalise the banks, but he said that would not happen soon.

"We have already commissioned a working paper in regard to the principle being accepted of a similar extension to the maturities (for) Portugal and Ireland as has been given to Greece," he said.

"There will be a report on that in March and hopefully a structure on the single supervisory mechanism by June."