COPENHAGEN, March 29 The following is a
statement by an ECB spokesperson on Ireland's initial promissory
note bank deal.
"The ECB takes note of today's announcement of the minister
of finance of Ireland regarding the government's intentions on
the payment of the promissory notes due on Friday the 30th of
It is very important that the Irish state will honour the
3.06 billion euro amortisation of the promissory notes. This
will reduce the emergency liquidity assistance which IBRC
receives from the central bank of Ireland and thus the
We certainly expect that also in the future the promissory
notes will be served according to the schedule to which the
government has committed itself.
As Ireland strives to regain market confidence, it is of
utmost importance that the commitments of the Irish state are
met in line with standing contracts and agreements.
The Eurosystem has provided unprecedented support for the
Irish banking sector. The objective should be to reduce over
time the reliance of Irish banks on central bank funding and in
particular on the emergency liquidity assistance."
For for more detail on the deal, click: [ID:nL6E8ETA89}
(Reporting By Paul Carrel and Daniel Flynn)