Anglo debt deal to save State €14.4bn, says Davy Stockbrokers

(15 Feb 2013)

Anglo Irish Bank Thumbnail0It is reported in todays Irish Independent that STOCKBROKERS Davy has estimated that the deal on the controversial promissory note will save the State €14.4bn in interest costs on average over the next 18 years.

Davy said the deal swapping the promissory notes with long-term government bonds would save €800m a year in interest on average between now and 2030.

The broker said it was a “significant reduction” in interest costs but claimed it would not dramatically change the budgetary arithmetic.

Read Irish Independent Report

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