Minister for European Affairs Lucinda Creighton has said that the attempt to get a better deal on Ireland's banking debt is not "dead in the water".
Minister Creighton's comments come after the European Economic Affairs Commissioner Olli Rehn insisted the obligations under the bailout deal must be respected.
Yesterday the European Commission also said Ireland must honour its commitments in order to regain market confidence and graduate from the rescue programme.
However Minister Creighton said she is "very confident" a deal will be secured with the Troika to restructure the Anglo promissory notes.
"No, it's not dead in the water," she said.
"I would say that Olli Rehn's remarks yesterday (are) consistent with what the Government has said all along.
"We have said that we will honour our commitments and we will do that.
"I am very confident that we will secure a deal on that, and we are very confident that we have the support of the European Commission and the IMF in our efforts to arrive at a compromise in relation to the promissory notes," she added.
"But it will take some time."