TAOISEACH Enda Kenny says he is still confident the Government will strike a deal on the repayments of the Anglo Irish Bank debt.
The European Central Bank is understood to have rejected the Government's proposal to roll the repayments on the promissory note out over 40 years.
The next repayment of €3.1bn is due at the end of March.
Fianna Fail leader Micheal Martin said at this stage "transparency" was needed.
Mr Kenny said the promissory note repayment was "not an easy situation to unravel" and there were "significant challenges".
But he added: "I am confident we will have an agreement and conclusion on this before the next payment is due.”