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Good News from Bad Anglo

Posted on: April 1st, 2012

Last week, TDs were twice summoned into the Dail chamber for separate unscheduled announcements within 48 hours. The first summons was for the date of the referendum on the Fiscal Treaty. The second, for the details of the Anglo Irish promissory notes deal.

The official government line is that there is no connection between the referendum on Europe’s Fiscal Treaty and Europe’s green light for a delay on repaying the Anglo debt. The Government is scared stiff of getting up the nose of the European Central Bank, so the pretence has to persist that the twin stories — running in tandem to the hour — are just a coincidence.

In the world of realpolitik, there is now a better chance of the treaty being passed if Enda Kenny and Michael Noonan can convince us that the Anglo notes breakthrough is the first of a series of concessions from Europe.

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