Timeline

2010 Government commits to paying €31 billion to Anglo- and rish Nationwide in the form of promissory notes as part of recapitalisation…

2010Government commits to paying €31 billion to Anglo- and rish Nationwide in the form of promissory notes as part of recapitalisation.

September 2011Minister for Finance Michael Noonan says he is pursuing a deal to secure lower interest and longer maturity promissory notes.

November 2011Department of Finance says talks under way between Irish and EU officials on promissory notes as Noonan seeks redesign of interest rate.

January 2012Government wants to write down or defer principle payments on promissory notes, Minister for Transport Leo Varadkar says.

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March 2012Government wins deferral of €3.06 billion promissory note instalment in favour of a long-term Government bond.

Early June 2012Taoiseach Enda Kenny tells German chancellor Angela Merkel he wants a deal on the Irish bank debt following Yes vote in fiscal treaty. Germany casts doubt on deal.

Mid-June 2012IMF says a restructuring of the promissory notes is needed.

Late June 2012Policy shift by Merkel opens up the prospect of a easing in banking debt burden.

October 28th 2012Germany signals it is open to a reworking of promissory notes.

December 9th 2012Minister for Communications Pat Rabbitte says Government will not pay instalment in March.

December 19thEnda Kenny is confident agreement on promissory notes will be in place by March.

Jan 10thEuropean Commission president José Manuel Barroso is supportive of Ireland finding a solution to the promissory notes.

January 14thEurope minister Lucinda Creighton receives positive signals that Berlin supports efforts to recast notes.

January 27thTánaiste Eamon Gilmore warns of a "potentially catastrophic effect" if the country is unable to renegotiate terms.

February 4thMichael Noonan says not securing deal poses no threat to future of Coalition.

February 5th 2013Enda Kenny and Eamon Gilmore deny Coalition tensions on the implications of failure to reach promissory note deal.

Genevieve Carbery

Genevieve Carbery

Genevieve Carbery is Deputy Head of Audience at The Irish Times