Noonan hopes to settle €3.1bn Anglo payout with bond

Government hopes have risen that it can avoid having to fork out €3.1bn in cash to Anglo at the end of the month.

Finance Minister Michael Noonan last night signalled that the Coalition was on the verge of a breakthrough in its ongoing negotiations with the troika of ECB, EU and IMF.

With the Mar 31 repayment date looming, Mr Noonan said his hope was to settle the €3.1bn due by way of a Government bond — essentially an IOU — rather than cash.