January 16, 2013 / 3:36 PM / 5 years ago

Irish promissory note solution not "done and dusted"- c.bank

DUBLIN, Jan 16 (Reuters) - Ireland’s talks with the European Central Bank on easing the terms of part of its bank-related debt are not quite over but the envisaged solution will be very advantageous to the country, its central bank governor said.

“‘Done and dusted’ is over-interpreting my statement so be careful with that,” Patrick Honohan told Irish members of parliament at a committee meeting on Wednesday.

“This design will definitely be very advantageous to Ireland... Of course any transaction that involves lengthening of maturities, it can end up adding up lots more years of interest but if those interest rates are sufficiently low then that is also advantageous, so don’t worry on that count.”

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