Deal on €3.1bn Anglo payout nears

There were signs last night that Ireland is nearing a deal on the €3.1bn due at the end of the month under the Anglo IOU deal — meaning the repayment could be postponed.

Irish and troika officials have been working together for weeks to find a way of cutting up to half the €31bn loan, which with interest would come close to €50bn, and spreading repayments over 30 years instead of the current 10.

There were clear signs last night that both Government and EU officials believe a way can be found to deal with the complex arrangement put in place by the previous administration.