Deal on €3bn bank debt could be in place within weeks, says Noonan

A deal on Ireland’s bank debt, which would scale down March’s €3bn repayment considerably, could be in place within weeks.

The ECB, which has been reluctant to agree an arrangement with the Government, shifted its stance over the weekend following intense pressure from the IMF and EU finance ministers.

It followed a tour of Berlin, Paris, and Rome by Finance Minister Michael Noonan prior to the two-day meeting in Cyprus where he enlisted the support of the eurozone’s most powerful members.