Ireland eyes cheaper instruments to replace Anglo IOUs

DUBLIN Wed Feb 6, 2013 8:15pm EST

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DUBLIN Feb 7 (Reuters) - Ireland wants to introduce cheaper, longer term instruments to replace promissory notes used to prop up failed lender Anglo Irish Bank, Prime Minister Enda Kenny said on Thursday.

"We're committed to replacing short term emergency central bank lending secured against the promissory notes used by the previous Irish government to bail out the worst Irish banks with longer term and more affordable financing," Kenny told a special session of parliament.

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