Ryan: Chances of extending budget timeframe 'slim'

The Communications Minister Eamon Ryan has said the chances of extending Ireland's deadline for getting the country's finances in order are "very slim".

It follows a call from the ESRI for the Government to extend the 2014 deadline by at least two years.

It is warning the plan to reduce the budget deficit to 3% over four years could lead to a prolonged recession.

The European Commission has already rejected the call and Minister Eamon Ryan agrees.

Mr Ryan said: "The fact that the Commission had come back and said 'No that target is set', we've already got an extension on it, I think the likelihood of getting another extension is very, very slim."