EU leaders have reached an agreement which will see struggling banks recapitalised directly – a move which is seen as key to any renegotiation of Ireland’s bank debt.
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The Taoiseach has met with his EU counterparts at a summit in Brussels – where they also agreed on a Single Resolution Mechanism.
The new system aims to recognise and deal with problem banks in the Eurozone.
European Council President Herman Van Rompuy says progress has been made on a number of key issues:
