Kenny and Noonan: No deal on Anglo debt before end of Summer

The Taoiseach and the Minister for Finance have ruled out the possibility of reaching a deal on Ireland's Anglo debt before the summer holidays.

The Taoiseach Enda Kenny has also warned that Ireland may have to face another treaty referendum, if the EU goes ahead with greater fiscal union.

An EU summit at the end of June will consider fundamental changes for the future of the eurozone.

But International Affairs Editor of the Financial Times, Quentin Peel, said that it is unlikely to lead to any referendum before next Spring:

"The process that the European Summit is supposed to launch at the end of this month is going to be a much more fundamental rethink about where we go next", he said.

"And the timescale for that looks like being final decisions by the end of the year signed off perhaps in March 2013, I don't think we are talking about anything sooner than that".