Efforts to get Ireland sign reform pledge

Ireland, due to exit its bailout programme next year, will be pressed to sign a contract binding both the Government and opposition to continued reforms under plans devised by EU leaders at their summit.

Vital decisions on whether the country’s massive debt will be cut will be made over the next three months but Taoiseach Enda Kenny did not rule out making another payment of €3.1bn for the Anglo Irish promissory notes in March.

In the meantime the EU will draw up a system that sees member states set targets and achieve them to increase competitiveness and create growth in the euro area in particular.