Noonan seeks cuts to Anglo payment

Finance Minister Michael Noonan has intensified his campaign to cut the cost of repaying Anglo’s debts on the day the state handed over €1.2 billion to investors.

He needs the support of all the eurozone countries for a move that will, in effect, mean borrowing more than €30bn from the EU’s rescue fund.

But first he needs to get the troika — the EU, IMF and ECB — behind the plan that he hopes will see the interest rate cut and a longer repayment time.