'NAMA 2' loans will not now happen

Finance Minister Michael Noonan has said the EU/IMF staff mission has assessed that Ireland has met its targets so far in the bailout programme, and has agreed to a reversal in the minimum wage cut.

Details of changes that will apply from now on to the bailout deal also include an endorsement of the Government's jobs initiative package - to be unveiled next month - and that the transfer of small loans to 'NAMA 2' will not now take place.

Minister Michael Noonan says the two weeks of discussions have gone well: