The recapitalisation of Spanish banks has dominated this evening’s meeting of eurozone finance ministers in Brussels, with the Greek and Cypriot bailouts also due for discussion.

However Ireland is hoping to make progress on the written commitment it received from eurozone leaders for its debt to be placed on a sustainable footing.

Arriving for the talks this afternoon, Minister Noonan refused to talk about how much debt he hoped to renegotiate but said the target would be ambitious.

He said he hoped to nail down a timetable for those talks at the finance ministers meeting, with a conclusion before December's Budget being in the national interest.

While talks with the EU, ECB and IMF to date have been focused on Anglo Irish Bank promissory notes discussions had now widened.

However agreeing a timetable is the key objective of today’s eurogroup meeting.

Bank guarantee should be investigated

Earlier Mr Noonan said it was important that matters around the bank guarantee should be investigated, and that these should be investigated by a Dáil Committee that has as much authority as possible to do so.

Speaking in Limerick, the minister said it was a great pity that the proposal put to the people in the recent referendum that a Dail Committee be given all the powers of the High court to investigate matters, did not go through.

He believes either the PAC of which he is a former Chairman, or the Finance Committee, or a separate Committee as suggested by his Cabinet colleague Pat Rabbitte, with the proper terms of reference could do the job.

He said the Chairmen of both the PAC and the Finance committees are equally competent, he said it is a question of how best the terms of reference fit.

In relation to his meeting this afternoon with Eurozone finance ministers, Mr Noonan said the priority at that meeting will be Spain and detailed discussions about that country and Ireland will fully participate in that.

He said it is not generally known, but talks on the restructuring of Ireland's bank dept were opened with the Troika when they were in Dublin last week, and those discussions are continuing at Troika level.