Talks may yield bulk of €1bn savings by Monday

The round-the-clock talks on an extension to the Croke Park deal could yield an agreement on the bulk of the required €1bn in savings as early as Monday.

The Labour Relations Commission, which is overseeing the talks, has separated the process into key areas: Working hours, pay cuts for the higher paid, cuts to premium payment, overtime, and increments. The last area groups the remaining outstanding issues, including redeployment.

On each area, the two sides are well versed on what the opposition is looking for. Three of the topics will likely yield most of the savings.