Legacy debt deadline will be missed

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A deadline for striking a deal on Ireland’s legacy debt by mid-2014 will be missed, Taoiseach Enda Kenny has revealed. While he insisted the nation will continue to fight European finance chiefs for the restructuring of its bank debt, he said complications inevitably arise. “It won’t be met. I wouldn’t think it would be met, no,” Mr Kenny said of an initial deadline. “I always said in the latter half of 2014. Now, look I may be wrong here. When you sit around the table with 26, 27, 28 or 27 others, complications can arise from any point.” He said a commitment made by the European Council in June last year to retroactively recapitalise Ireland’s banks should be stuck to. But nothing can be…

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