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Dublin: 11 °C Sunday 19 May, 2013

Noonan confident about bank debt deal

The Finance Minister said the ECB seem to be “more eager” to move forward.

Image: Petros Karadjias/AP/Press Association Images

FINANCE MINISTER MICHAEL Noonan has described the European Central Bank as “more eager” to move forward on a bank debt deal for Ireland.

Speaking after two days of informal meetings with his European counterparts in Cyprus, Noonan told reporters that a number of people – whose assistance he had been recruiting – spoke to the ECB in connection with Ireland’s €30 billion Anglo Irish Bank promissory notes. He singled out IMF chief Christine Lagarde for particular praise.

He also told RTÉ’s News at One that there was now “very strong support at political level” to make the country’s debt more sustainable.

Eurogroup head Jean-Claude Juncker said yesterday that Ireland could be given more favourable terms on its international bailout if a deal is reached on its banking debt. “We will discuss possible improvements of the well-performing programme at one of our next meetings,” Juncker said at a press conference after a meeting of eurozone finance ministers on Friday.

Ireland’s next expected payout of €3 billion is not until March 2013 and Noonan said there is no rush to complete a deal.

Earlier today, Sweden dismissed all proposals that could lead to European banks being placed under the supervision of the ECB. Finance Minister Anders Borg called such moved “completely unacceptable”, adding that there were a number of countries within the EU – but outside the eurozone – which felt the same.

“We cannot accept that the money of Swedish taxpayers is used to bail out foreign banks,” he explained.

Earlier: European-wide bank supervision plans ruled out by Sweden>

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Comments (30 Comments)

  • Bang on Ryan….that debt should never, ever have been put on our shoulders. Good news that it might be extended but it should really be taken off our backs completely.

    Reply
  • Excellent news.

    It’ll be great to see our national debt tumble after this bank debt deal.

    Reply
    • Haha you,ve sum hope, no hope and bob hope of that happening.
      ENDA Kenny sed last month that their was a seismic shift in this??

      Noonan,s going on wasted trips to “get the bank deal down ” when actually all he,s really interested is getting a job in the EU commission which is not right as he should be focusing on the fact that this country is fukd. Instead all him and co. in the dail, the only thing they like to think about is the money going in their back pockets.

      What a disgrace to this country.!!

      Under this system of political parties we have:

      Massive fraud amounting to billions and no one is in jail.
      Mismanagement of the State and economy; not just failure of supervision but actual collusion by the regulators. No one is in jail.
      Shameful abuse of countless women and children and men in State or private institutions under State supervision, and no officials are in jail.
      We are ruled over by a cabal of political parties of vested interests.

      Note:

      A cabal is a group of people united in some close design together, usually to promote their private views and/or interests in a church, state, etc. often by intrigue.

      http://www.change.org/petitions/supporting-the-irish-nation-step-down-from-government

      Reply
    • I think most of us know what a cabal is, and it up to those who do to choose to look it up themselves. Don’t be repeating the same mistakes as the majority of politicians; disrespecting the public.

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    • Noonan is 69 years old and you think he has his eye on the an EU Commissioner job……

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    • I agree with david.

      It will be much more lucrative to hand our country hook line and sinker to his bilderberg buddies.

      Reply
    • Mick 15/09/12 #

      @ Catherine -u are still giving out..but still offering no solutions…very lame. Put some solutions up and people might listen to you

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    • Another load of lies Noonan.

      We pumped billions into your bust banks to create a ”functioning” banking system.
      Now these corrupt banks say that they are lending, and that they are servicing their customers needs, when they are doing nothing of the sort.
      Lies.
      We own these banks now Noonan and we have the right to know who they are lending to, because it certainly ain’t us.

      In stable economies the government shuts down corrupt banks so as to allow the non corrupt ones to go about their business and to serve their customers,
      in Ireland the government pumps billions of euros of taxpayer money into corrupt (and most likely criminal) banks and lets their customers (the taxpayer) starve.

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    • So its back to the 80′s Noonan,
      corrupt bankers looking after themselves and their cronies on the taxpayers dime,
      corrupt politicians looking after themselves and their cronies on the taxpayer dime,
      while the people who do the work are heading for the boat???

      You and your bedfellows should be ashamed of yourself.
      Weak, soft, toothless,spineless ”leaders”

      Reply
    • @ Harry, you’ve clearly outlined your grievances, but can you put forward any viable solutions? Take the next step..

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    • Nikolas – you seem to ask the same question of everyone who disagrees with your support of the current policies. Here are the solutions you ask for: http://www.youtube.com/watch?v=rGkmgnprrIU

      Reply
    • I ask the same questions, regardless of whether the person I’m asking has an opinion close to mine or not, because I’m interested in what people think, and I’m very uncomfortable with a spirit of defeatism and rejection that’s leading to a repetition of what’s wrong, rather than stating how it could be better. I disagree with your ideas, but I do respect that you’re putting ideas forward. Solutions are more useful than problems, and facts are better than hearsay.

      Reply
    • @Nikolas – your comment is very fair (I even gave you a thumbs up!)
      What would you do different of you were a decision maker in government?

      Reply
    • I can remember a show a few years back……..beginning to think now the whole thing was set up to get this guy looking rosy in the public’s eye again……what a disgrace !!!

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    • O.K. Nikolas.
      But aren’t the politicians, bankers and senior civil servants supposed to be the experts at solving problems,
      is that not their job, isn’t that what they are paid 5 figure sums for?

      However here are a few suggestions.
      How about closing down all of these corrupt, diseased, dysfunctional, unregulated excuses for banks,
      writing off the farcical debts that they dished out so recklessly/illegally,
      so as to allow functional, regulated banks/credit unions into the market or allowing us to find out that maybe we can do without these so called ”banks” and their debt altogether?

      How about reducing the size of our expensive, overstaffed government?

      How about paying our government/senior civil servants on quantified performance only?

      Reply
  • alan 15/09/12 #

    Yippee now they can cancel the USC, property tax, extra VAT and all the other taxes we injure…

    Reply
  • Ryan'O 15/09/12 #

    How many times has Stubs Noonan said this before? 3/4 times, I won’t believe it until I see it so I might have a loooooooooooooong wait!! Complete debt write down is what we want. We shouldn’t be paying these promisery notes in the first place.

    Reply
  • They are drip feeding us, one day it’s on the next we gave to do more, wish to God they would just throw in the towel and admit that saving the Euro at any cost is to high a price to pay, do Mr. Noonan when you tell me the deal has been written into law I will listen

    Reply
    • Anne, the euro is working perfectly, for the true owners of the central banks. It is being used to extract wealth from its host nations. They control our money supply. They flooded us during the Celtic Tiger era, now they are contracting our money supply. The result – bankruptcy and foreclosure – easy pickings for those who knew it was coming.

      Reply
  • It is sickening that we have to wait for unelected bureaucrats to make decisions that impact our children and grandchildren. We are moving further from a democratic set up all the time. We will be allowed choose the means of our own pain and that’s all. That we shall suffer is decided in central Europe.

    Reply
  • Jayzuz you are a bunch of miserable bustards.
    Dont like Noonan and his cronies at all but if he can pull this one off he’s at least done something good.
    It could be the best news we’ve had in ages and all you lot can do is find doom and gloom

    Reply
  • Why should anybody give us a complete debt write down? We destroyed ourselves. With huge increases in wages to the majority and redicilous pensions in the Croke Park Meal we really nailed our own coffins. Should we loose the big American companies as they will be summoned home over the years we will be a basket case as our Irish industries could not support a local council never mind a civil service. What good have Irish industries brought in in tax ??

    Reply
  • What we need is the separation of Banking and Sovereign Debt.
    The article tells us this will never happen, why should countries not in the Euro, but that are in Europe Union pay for others greed and corruption. There will never be good news from Europe just an ever extending of the debt deadline, that will keep us under Europe’s thumb for eternity

    Reply
  • Why did the words “there’s one born every minute” come into my mind along with a picture of some geezer called Chamberlain waving a piece of paper after returning from Germany in 1938’s (the ‘peace in out time’ speech – boy, did he get that one wrong(!))…

    Reply
  • This man should be in our Central Bank and Department of Finance, he knows how to fix economies:

    http://www.youtube.com/watch?v=rGkmgnprrIU

    Reply

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