New debt-crisis measures expected from ECB

The European Central Bank is expected to unveil new measures aimed at tackling the Eurozone debt crisis following its monthly meeting today.

Financial markets are hoping president Mario Draghi will reveal details of a revamped programme to buy up the sovereign debt of Eurozone countries.

However there are some fears any new programme of bond-buying will fuel inflation, and ultimately erode the ECB's independence, so there are likely to be conditions attached.

The anticipated initiative comes as Finance Minister Michael Noonan steps up his push for a deal to ease Ireland's banking debt.

Chief economist with Goodbody Stockbrokers Dermot O'Leary said a deal on Ireland's bank debt could be pushed back until next year.

"The banking bailout in Spain won't be finalised until November and we won't get a better deal than Spain (so) there is a risk of this extra package for Ireland getting pushed out past October and possibly into next year," he said.