The Taoiseach says the promissory notes for Anglo Irish Bank are gone once and for all.

Enda Kenny says the coalition has this afternoon agreed to a conclusion of a deal with the European Central Bank (ECB).

Instead of paying out €3.1 billion a year no capital payment will be made now until 2038.

The final payment will be due in 2053.

The Taoiseach has told the Dáil the closure of the Irish Bank Resolution Corporation (IBRC) as part of the deal wipes out Anglo and Irish Nationwide and book-ends a tragic chapter in our nation's history.

Enda Kenny says the deal will offer less austerity to taxpayers from the next budget.