Massive blow to taxpayer as ECB rejects promissory note plan: Doherty

January 26, 2013

The ECB rejection of the government's preferred plan to deal with the Promissory Notes is a "massive blow" to the taxpayer.

Doherty said:

"I am alarmed at today's news that the ECB have rejected the government's preferred option in dealing with the Promissory Notes.

"The next due payment from the IRBC promissory notes falls due in only a matter of weeks. We hear today that the government has failed to convince the ECB that their preferred solution is acceptable.

"This is a massive blow for taxpayers. Despite weeks of positive spin by the Government it appears that a deal on this year’s €3 billion payment to Anglo is now less certain. 

"It is totally unacceptable that the Irish people have to hear about these negotiations from news sources. After all it is the taxpayers who are being asked to foot the bill.

"It is time for an end to dealing behind closed doors and spinning these critical talks in a dishonest way.

"Sinn Féin wants to see a sustainable way found to deal with Ireland's debt. We don't want see the taxpayer paying a cent for the wreckage of the former Anglo-Irish bank. The government must now inform the Dáil of where we stand in these talks and what the true situation with our debt talks really is." Ends