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Minister: No timetable for Anglo repayments deal

Feb 10th, 2012, 10:50 am

The Minister for Communications says there is no timetable for restructuring the repayment terms of the Anglo promissory notes.

But Pat Rabbitte says he hopes the negotiations will be finalised sooner rather than later.

It follows reports that Minister Rabbitte expected an agreement on the restructuring in the next few weeks.

A deal would lessen the burden of the promissory notes – or IOU – worth €31 billion owed to Europe which was used to bailout the now former Anglo Irish Bank.

Minister Rabbitte says work on getting a deal is continuing.

He was speaking to Newstalk’s Jack Quann.

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