Kenny: Not paying €1.25bn would trigger a catastrophe

Ministers refused to halt the handover of €1.25bn to unsecured Anglo bondholders — despite branding the payment a “sickener”.

The Taoiseach said the country had no alternative as withholding the money would trigger a Greek-style “catastrophe” and collapse of public services.

“To say you don’t pay is nonsensical,” Enda Kenny told the Dáil.