Leading economist Colm McCarthy expects negotiations on Ireland's legacy debt issue to continue for another two years.
German Finance Minister Wolfgang Schauble
Wolfgang Schauble said Ireland is a special case, but also suggested that there could be no re-shaping of bank debt until 2014.
“We know it’s a very specific situation in Ireland, Ireland is a special case,” he said.
Colm McCarthy said: "Six or seven of the 17 countries in the eurozone are in serious trouble. The overall response has been too slow.
"It was always going to be a long game. We'll be negotiating aspects of this I suspect for another couple of years."