Deputy Doherty says Government can not claim Anglo debt push down as a victory

The Government's announced it won't have to pay the Promissory note for the former Anglo Irish Bank this weekend - and will settle it with a Government bond instead.

But Michael Noonan's warned that talks need to continue to find a long-term solution to the debt at I-B-R-C.

And he says the decision to allow us to make this payment with a bond rather than cash will improve our debt position this year and offer flexibility on a return to the markets.

Donegal North-East Deputy, Joe McHugh says it's a significant announcement:

[podcast]http://www.highlandradio.com/wp-content/uploads/2012/03/joemc.mp3[/podcast]

But, responding to the announcement Donegal South-West Deputy, Pearse Doherty said that the government could not claim pushing the Anglo debt down the road as a victory.

He said the fact that there was any movement on the promissory notes was due to pressure applied to the government by Sinn Fein and others:

[podcast]http://www.highlandradio.com/wp-content/uploads/2012/03/pdoc.mp3[/podcast]