Michael Noonan: Debt deal ‘unlikely to be addressed' before end of year

Ireland’s attempt to get a deal on historic bank debt is unlikely to be addressed until the end of this year at the earliest and will be considered alongside the potential sale of State-owned banks, Finance Minister Michael Noonan has said.

The issue of retro recapitalisation of Ireland’s bailed-out banks is expected to be informally raised today with German chancellor Angela Merkel.

A Government spokesman said that “the matter could potentially be touched upon” by Taoiseach Enda Kenny when he meets chancellor Merkel during the European People’s Party (EPP) congress in Dublin.