The Taoiseach Enda Kenny has welcomed a deal hammered out in Brussels overnight, which it is hoped, will calm the eurozone debt crisis.
After a marathon session of talks, eurozone leaders agreed to boost the bailout fund to around a trillion euro, as well as a €106bn fund to re-capitalise banks.
Banks have also agreed to write off 50%t of Greek debt.
At the end of the summit in Brussels this morning, Mr Kenny said it is a positive breakthrough for Ireland too.
Mr Kenny said: "This allows a much-improved environment within the eurozone which brings about stability for the euro and therefore an improved environment for Ireland to do its business.
"This allows us now to focus on the real opportunities that this presents, with increased opportunities for jobs, job creation, business initiatives and getting people back to work."
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