Government to pay Anglo bondholders €1.25bn today

The Government will not stop today’s repayment of €1.25bn to Anglo bondholders, with Enda Kenny insisting: “We are not going to have the name ‘defaulter’ written across our foreheads.”

The Taoiseach was repeatedly urged yesterday to “stand up” to the ECB and make clear that Ireland could not afford the repayment. Mr Kenny said his administration had no choice but to allow the repayment.

“I would much prefer to stand up here and say that we were in a position not to pay this. But there’s a difference between ‘won’t’ and ‘can’t’,” he told the Dáil. “We are not going to have the name ‘defaulter’ written across our foreheads. We will pay our way. We’ve never looked for a debt writedown.”