Varadkar: 'Why would we pay next instalment of promissory note?'

The Transport Minister Leo Varadkar says he does not see why Ireland would pay the next instalment of the Anglo Irish Bank promissory note.

€3.1bn is due to be paid in March 2013 - after this year's €3bn instalment was deferred in favour of a long term Government bond.

The Government is working to secure a deal in Europe which would see the debt restructured.

Minister Leo Varadkar says the state didn't pay this year and he doesn't see what has changed.

"The payment is due at the end of March and certainly in my view we didn't pay it last year and issued a bond to avoid paying it. I don't see why we would pay it this year."

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