EU Deal Top Of Agenda

The new government is up against a tight timeframe if it hopes to deliver on a key promise made by both Fine Gael and Labour - to renegotiate parts of the IMF/EU bailout deal.

Enda Kenny faces a series of key European meetings within days of taking office, which will decide whether or not he can secure concessions.

Mr Kenny will travel to Helsinki, Finland this Friday for an informal meeting of centre-right leaders, where he will have the chance to meet German chancellor Angela Merkel, and French premier Francois Fillon.

Also present will be the heads of the European Council and European Commission.

The Helsinki meeting is a prelude to a summit of the 17 euro-zone leaders in Brussels on Friday week.

And EU leaders hope that meeting will clear the way for a final consensus at a full EU summit for the 27 member states on March 24 and 25.

Meanwhile, Finance ministers from across Europe will also be holding talks to try to work out the details of any deal.

Ireland's negotiating position is weak, as the country is totally dependent on external financial aid provided for in the bailout deal.

There are also fears that Germany and France, in particular, will seek changes to Ireland's corporate tax structure as a pay-off in any deal.

Fine Gael has said it wants to see the interest rate being charged to Ireland reduced, while Labour wants the period covered by the austerity measures in the plan to be extended.

Any solution will be part of a Europe-wide deal, and Enda Kenny still believes he can secure changes.

"I think Europe will be looking at this election here, they will see this is the first country to be the recipient of this particular kind of bailout deal," Mr Kenny said.

"The reality of what we face in terms of this challenge is too much. I see room for manoeuvre in terms of interest rates and in terms of the cost of the banking structure. This particular IMF-EU deal is a bad deal for Ireland and a bad deal for Europe. This is a first. It should not be set in stone."