Taoiseach Enda Kenny has said the Government is focused on avoiding the next payment of the €3.1bn promissory note.
Last night, Minister for Communications Pat Rabbitte said the country will not pay the promissory note for former Anglo Irish Bank when it is due in March.
Speaking in Oslo, Mr Kenny said the Government hopes to negotiate a deal before then in terms of restructuring and re-engineering the debt so that it does not have to be paid.
Speaking on RTÉ’s The Week in Politics last night, Mr Rabbitte said the European Central Bank was a difficult institution to "bring around" to stamping the deal Ireland needs on the promissory note.
But he added that he believes it will happen before the payment is due next March.