The Government has had to moderate economic growth predictions for next year because of the euro crisis, according to Minister for Communications, Energy and Natural Resources Pat Rabbitte.

On the payment of bonds to Anglo Irish Bank, he said he personally thought it reasonable for the Government to expect a quid pro quo in its negotiations with the EU/IMF given the burden of private debt and the requirements of the European Central Bank.

Speaking on RTÉ’s This Week programme, Mr Rabbitte noted that in addition to Ireland's debt burden, the Government was committed to providing an additional €30.6bn in promissory notes to three financial institutions over ten years.