Oireachtas Joint and Select Committees
Thursday, 14 December 2017
Public Accounts Committee
2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation
9:00 am
Mr. Eoin Dorgan:
I am not a legal expert, but a promissory note, essentially, to characterise what Deputy Connolly said, is a promise to pay in time. A sovereign bond is very similar in a sense but it is a sovereign debt instrument that has been given out. It is essentially that the State will repay a debt in due course.
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