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Irish PM sees 'significant challenges' to promissory note deal
January 29, 2013 / 3:47 PM / 5 years ago

Irish PM sees 'significant challenges' to promissory note deal

DUBLIN, Jan 29 (Reuters) - Ireland faces a major challenge in securing a deal with the European Central Bank to restructure 30 billion euros of debt it incurred during its bank bailout, Prime Minister Enda Kenny said on Tuesday.

“There are clearly very significant challenges here,” Kenny told parliament, adding that he was confident a deal could be secured before the next payment on that debt is due at the end of March.

The ECB rejected Ireland’s preferred solution over how to reschedule payments under a 30 billion euro promissory note, Reuters reported on Saturday, a deal the government says is critical to exiting its EU-IMF bailout programme.

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