Troika: Non-payment of Anglo debt 'would mean higher bills'

The Finance Minister Michael Noonan will join EU colleagues in Brussels today for a summit aimed at hammering out a long-term plan to tackle the Eurozone debt crisis.

Negotiations are also being finalised on a deal to lighten Greece's debt burden.

Meanwhile, the Government has been defending its plan to pay €1.2bn to Anglo bondholders this week.

Early next week Europe's leaders will gather in Brussels for a summit aimed at finalising a new treaty to bring an end to the European debt crisis.

Ireland will have to decide whether there is going to be a referendum here to ratify the treaty.

But before that, Finance Ministers from across the EU will meet today to firm up the rescue response and to put in place a new deal to help Greece.

In Ireland, transport Minister Leo Varadkar said the troika has warned the Government that failure to pay the Anglo bondholders €1.2bn this week would set off a financial bomb in Dublin and lead to higher utility bills and mortgages for everyone.