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German chancellor Angela Merkel: the hope was that Ireland would get retrospective consideration for debt relief in the event Spain's failing banking system got a direct, non-programme bailout from Europe.

The big story

It didn't take the government long after securing a 'yes' vote in the referendum to start talking up the prospects for some kind of a deal on the banking portion of Ireland's national debt.

The hope, allegedly raised by Enda Kenny during a courtesy call with German chancellor Angela Merkel, was that Ireland would get retrospective consideration for debt relief in the event Spain's failing banking system got a direct, non-programme bailout...

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