Creighton confident of 'quick' deal on Ireland's bailout terms

An informal meeting of EU finance ministers continues in Cyprus today.

Yesterday it was confirmed that the Eurozone's permanent bailout fund, the ESM, will be up and running at the end of next month.

That will have impact on moves to restructure Irish bank debt, something the Finance Minister Michael Noonan insists his department are pursuing as a priority, despite the fact that they will miss their October deadline.

European Minister Lucinda Creighton has said she is extremely confident a deal can be reached to improve the terms of Ireland's bailout "relatively quickly".