Meeting on campaign against promissory notes

Galway Debt Justice will hold a public meeting for those who want to take part in a campaign to cancel the crippling burden on the State finances caused by the Anglo promissory notes.

The meeting takes place this Monday at 6pm in the Galway One World Centre, 76 Prospect Hill.

The visit of the Irish Central Bank to Galway this week, for their first formal meetings outside of Dublin, has been met with criticism by Galway Debt Justice.

The governor of the Central Bank, Patrick Honohan, spoke of his confidence that a deal would be done on the Anglo/IBRC promissory notes within the coming months. However, campaigners fear such a deal will end up costing the public more in the long run and will ensnare future generations in debt.

“The last time we were told that a ‘deal’ had been done on the Anglo promissory notes, we ended up paying more,” said Paul Murphy of Galway Debt Justice. “When an instalment of €3.1 billion of these illegitimate debts fell due for payment last March, Michael Noonan claimed that the payment had been deferred.

“While the deal may have been success for the Minister in terms of spin, the reality is the payment was made, on time and in full, but this convoluted sleight of hand cost the public in the region of €90 million in additional interest repayments.”

All are welcome to the meeting

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