Taoiseach: We need time to get debt deal right

Taoiseach Enda Kenny insisted today that getting a deal on Ireland's bank debt right, is more important that making it happen quickly.

"There isn't any point in attempting to put something as difficult as this together without it being right," he said.

Enda Kenny met French President Francois Hollande in Paris in the wake of an acknowledgement from Germany that Ireland's is "a special case".

Speaking outside the Elysee Palace after meeting the Taoiseach, President Hollande said that it is not yet possible to say what Ireland can hope for.

"Irish banks recapitalised to €64bn," he said.

"You mentioned discussions to come with the Eurogroup - would that consider the whole package or only some specific funds? The answer is: 'too early to say'.

"Could the recapitalisation be retroactive is the question, the answer at present is: 'Yes'.

Irish Finance Minister Michael Noonan said that the new EU-wide bank supervision regime needs to be in place before any deal.

"We're looking well into next year before the nuts and bolts of that piece of negotiation can continue," he said.