Chambers Ireland Welcomes Deal on Promissory Notes

Chambers Ireland has today (07/02/13) welcomed the Government’s deal with the ECB to eliminate promissory notes in exchange for long-term bonds.

Speaking this evening, Ian Talbot, Chambers Ireland Chief Executive, said “The news that the country has eased its bank debt repayment burden significantly is welcome. This very positive economic development will assist greatly in rebuilding consumer and investor confidence and help boost the domestic economy.”

“The reported deficit saving of €1 billion annually is significant but must not mask the need for much needed reforms and the continued curbing of Government spending. Croke Park II is still vital for our economic recovery and must be the Government’s top priority now this deal has been delivered,” he concluded.

-Ends-

For further information contact Amy Woods, Chambers Ireland on 01 400 4319, 086 6081605 or email amy.woods@www.chambers.ie