Honohan expected to seek delay in promissory note payment

The Governor of the Central Bank is expected to ask for the delay in the payment of €3.1bn to the former Anglo Irish Bank, which is due at the end of March.

Patrick Honohan will get a chance to raise the issue at a meeting of European Central bankers today.

A restructuring of the promissory notes is not expected to be finalised by the time the payment is due on March 31.

CEO of Sommerville Advisory Markets, Paul Sommerville, said the Government needs to negotiate a delay in the payments.