Schulz: EU should keep promises on Irish debt

European Parliament President Martin Schulz has said that says he believes the EU should keep promises made to Ireland in June on our banking debt.

Recent comments from three finance ministers threw the plan into doubt last week, after they stated the bailout fund should not be used to deal with so-called "legacy debt".

Mr Schulz is due to address the Dáil today during a visit which will also take in discussions on Ireland's upcoming EU Presidency.

He has pointed out that Ireland is facing a lot of problems to generate economic growth, and the relief that was promised on banking debt should be followed through.

"In the combination of all these problems it's quite clear that we must give more time, more flexibility to the country," he said.

"This is my position and the position also of the overwhelming majority of members of the European Parliament.

"Taoiseach Kenny asked nothing else than a certain kind of relief - that was guaranteed to him and I think the European Union should stick to the promise given to Ireland in June."