Ireland Has Good Chance of Easing Anglo Debt, Alan Dukes Says

Ireland has a “good” possibility of succeeding in easing conditions on the debt amassed from rescuing the former Anglo Irish Bank Corp (ANGL)., Irish Bank Resolution Corp. Chairman Alan Dukes said.

“The possibility in succeeding in getting alleviation on that side is good,” Dukes told Dublin-based broadcaster RTE today. “I have seen the result of action that has been taken up to now, I hear the political signals that are coming out, I think progress will be made on that.”

Ireland wants to refinance about 30 billion ($39.6 billion) of promissory notes it used to rescue Anglo Irish Bank Corp., on better terms and over a longer period. Anglo Irish was nationalized in 2009. In late 2010 Ireland accepted an 85 billion euro aid package as the cost of bailing out its banks became too much for the country to cope with.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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