European Parliament President Martin Schulz has told the Dáil that the EU should keep the promise made on Ireland's banking debt in June.

To applause, Mr Schulz said he personally believed that Ireland's bailout programme should be adjusted before the end of the year.

He said it is easy to be pro-European when times are good, and that being an EU member is like being in a marriage.

Taoiseach Enda Kenny this morning welcomed Mr Schulz to the Dail, saying the visit would help forge the relationships necessary for a successful Irish presidency.

Mr Schulz said Ireland had tackled its financial difficulties with determination.

It had not just accomplished but had over-accomplished the targets the Troika had set, he said.

But despite all the hard work, he said Ireland is still not back on its feet.

He called on financial institutions to contribute to the banking crisis clean-up, saying that ordinary people should not be expected to shoulder the banking fall-out alone.

However, he also mentioned the possibility of a financial transaction tax, which is not a popular concept in this country.

The European Parliament President said Europe needed to deliver a growth initiative, and that tough financial regulation was needed, with transparency at its heart.

Ireland takes over the Presidency of the EU Council on 1 January.