Eamon Gilmore (Dún Laoghaire, Labour) | Oireachtas source

We have renegotiated. We have significantly improved the terms of the promissory note. It does not have to be paid every year. It has been converted into a long-term bond, which will reduce our borrowing requirement by €20 billion and takes €1 billion or 0.6% off our deficit. By any standards that is a good agreement.

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