No banking deal for Ireland until next year says EP president

The President of the European Parliament has said that he believes it will be next year before Ireland gets a banking debt deal.

Martin Schulz made the comments at a meeting of European Parliament leaders in Dublin Castle this evening.

The talks mark the first major event of Ireland's six month Presidency of the European Union - which begins in January.

During a visit to Dublin in October President Schulz said Ireland should be part of a debt relief programme this year.

However he now admits that securing better conditions may be some months away: