THE GOVERNMENT chief whip has told the the Dail that some of this evening’s developments involving the former Anglo Irish Bank were prompted by the leak of news about a potential ECB deal.

Paul Kehoe confirmed that the ECB was considering an Irish proposal on resolving the IBRC promissory note dispute.

An unedited excerpt from his speech is as follows:

The ECB is considering a proposal from the Government as part of our ongoing discussions in seeking to reach an agreed position on resolving the promissory note satisfactorily.

The leaking of some elements of the ongoing discussion is unfortunate.

The Minister for Finance has taken action to secure the stability of IBRC in the face of these leaks.  He has appointed persons to assume the powers of the board in the interim period.

These ongoing discussions with the ECB illustrate tha the Government  has taken the initiative to deal with our problems.

We have taken hard decisions and will make other decisions necessary to get the country on track as quickly as possible.

Kehoe added that Ireland must ensure its European partners had regard “that Ireland’s capacity to pay its debts as maintained and enhanced.”

Read: Dáil to sit late to debate legislation on liquidating IBRC