Finance Minister Michael Noonan has said the European Central Bank President's position on Anglo promissory notes is not new.
Mr Noonan said that the ground rules on negotiating the Anglo promissory notes had not changed.
He was responding to remarks by ECB President Mario Draghi this morning who said on the issue that the ECB could not "print money" in order to deal with the issue.
Mr Noonan said there was nothing new in the ECB's position, adding that the Government was not seeking "monetary financing" by the ECB in Anglo's case.
Earlier, Mario Draghi said the ECB could not replace the action of member states and "print money".
He was responding to a question from Fine Gael MEP Gay Mitchell on the promissory notes issue.
"It's too easy to think that the ECB can replace governments' action or lack of it, printing money. That's not going to happen. We should remember that the ECB cannot undertake monetary financing, which can not replace what other member states should do in this,'' Mr Draghi said.
"This is true for Ireland, it's also true for every other case in this," he added.
According to ECB rules, it is forbidden to engage in the monetary financing of governments, or printing money, to deal with the individual budgetary problems governments might face.
Mr Draghi also urged eurozone leaders to move ahead quickly and put the ECB in charge of supervising banks.
Mr Draghi said the ECB should be permitted to start organising its supervisory activities from January 1, as laid out in the original proposals from the European Union's executive commission.
The ECB chief told members of the European Parliament's monetary committee this morning that the single banking supervisor, combined with later measures such as a common bailout fund and shared deposit insurance for people's savings, were "three pillars that will restore confidence" in the shaken eurozone. Together, the package is dubbed "banking union."
Confidence in the European banking system has been shaken by the debt crisis that has seen Greece, Ireland and Portugal bailed out and Spain and Italy struggling to finance themselves at acceptable costs.
The aim is for the single supervisor and bailout fund to take the burden of bailing out banks off of national governments.
Additionally, it would address the problem of national supervisors being too protective of their banks and slow to close down or restructure home financial institutions.
