Deal reached on promissory note

Ireland and the ECB have reached a deal on the promissory note, according to reports from the Reuters news agency this afternoon.

Mario Draghi is expected to discuss the situation in a media briefing at 1.30pm.

The deal was struck after the Dáil agreed to liquidate IBRC in the early hours of this morning.

However, the Department of Finance have yet to comment on whether the reports of a deal are true.

The Cabinet are scheduled to meet in the next hour.

Meanwhile, the ECB has kept eurozone interest rates at 0.75%.