Noonan praised by former Taoiseach Liam Cosgrave on day Ireland returns to bond markets

Donal O’Regan

Reporter:

Donal O’Regan

FORMER Taoiseach, Liam Cosgrave, was the man being honoured at a special ceremony at Ardnacrusha Power station today to mark the 85th anniversary of the founding of the ESB.

FORMER Taoiseach, Liam Cosgrave, was the man being honoured at a special ceremony at Ardnacrusha Power station today to mark the 85th anniversary of the founding of the ESB.

However, Mr Cosgrave honoured the Minister for Finance, Michael Noonan, for his work on the day Ireland re-entered the primary market with longer-term bonds for the first time since 2010.

Mr Cosgrave, who led the Fine Gael / Labour Coalition Government from 1973 to 1977, didn’t wish to comment on the state of the Irish economy.

But the 92 year-old did single out Minister Noon for special praise.

“Michael Noonan and those with him are doing a very good job, working very hard to put it right. He deserves a lot of credit for his work which is very exhausting.

“Michael is a long time on the go and I think he’s done a good job,” said Mr Cosgrave, who was at the opening of Ardnacrusha Power Station in 1929 with his father W.T Cosgrave.

The ceremony this afternoon was attended by Minister Noonan who told reporters “I always said we’d get back in the market this summer.

“We offered three month treasury bonds earlier and that was very successful. A lot of experts said we couldn’t do it, it is not earlier than I expected. If you go back on the record I would have said several times that in the summer of 2012 we would be putting our toe in the market,” said Minister Noonan.