In the Dail: a motion on the Promissory Notes

This evening the Dáil will discuss a motion co-authored by myself and Shane Ross on the Promissory Notes. You can see the text of this below. As of yet, there’s no counter-motion from the Government – but we’ll throw it live online whenever we get it.

That Dáil Éireann: in view of the imminent danger of Ireland’s humiliation in the negotiations with the European Central Bank over the Anglo Irish Bank promissory notes, calls on the Government to:

  • Make a public declaration that Ireland is unwilling to, and will not, pay the €3.1 billion payment due on 31st March;
  • Assert that the debt is not the moral obligation of the Irish people;
  • And demand from the European Central Bank that a prerequisite to a settlement of the promissory note issue will require a negotiated write-down of the debt embracing fair sharing of the burden across the Eurozone.


So the Government’s counter-motoion is in. Here it is below:

“That Dáil Éireann:

  • Recognises the importance of completing an agreement on the issue of the promissory notes before the next scheduled payment on 31st March 2013;
  • Recognises that the current negotiation approach is the best course of action in order to acheive agreement with our European partnets; and
  • Notes that the government will continue in its negotiations with the European Central Bank to achieve the best possible outcome for the irish taxpayer.”


  • As the promissory note is actually the ECB breaking its own rules, perhaps the screw could be further turned. Without their irregular manoeuvre, the euro would have ceased to be as fires would have raged throughout Europe had Anglo been permitted to collaps. How about a round of applause for Ireland and a full write down of ANGLO’s debts. They could surely bury it in another ‘promissory’ type of note to some other vague ‘institution thereby balancing their books and allowing them to further create money. Not that I agree with that but to ease the 31 billion away from our shores would be a good thing for my 11 yr old.

  • Brendan Whyte

    The problem as I see it is a complete lack of leadership from our elected representitives on this and on many other issues. This tippin of the cap to Europe has got to stop, not only is it imoral but I believe illegal. This is not our debt, full stop! Stephen I am delighted to see that the Independants are trying to do something about the promissory notes but unless the Goverment and European see tghat the Irish people are not going to take much more of this, than nothing will happen. Therefore I suggest that an online petition be organised to show the strength of feeling in the country. I would also suggest that one of the Independants take the case that failed last week back to the High Court and test the legality of this impossed fine on all Irish Irish people including the unborn. The message must be made clear, it is not our debt and streaching out the payments is not a deal.


    Brendan Whyte

  • Johnfmurtagh

    Do we know if they even asked for a write down or any degree of burden sharing?

  • Brendan Whyte

    I would doubt that they asked for any write down, if they had we would have heard about it from Frankfurt