Van Rompuy: Prospect of compromise on bailout rate

The President of the European Council has urged Governments blocking Ireland's interest rate cut on the bailout to "reach a deal".

Herman Van Rompuy was in Dublin today to meet with the Taoiseach Enda Kenny at Government buildings.

Speaking after that meeting he said there are prospects for a compromise on cutting Ireland's interest rates.

He also did not rule out Ireland's plan to burn senior bondholders at Anglo Irish Bank, but warned that it could only be done with Europe's permission.

Mr Van Rompuy said there needs to be a consultation on the issue.