Taoiseach Enda Kenny has said that there would be no deal on Ireland's bank debt before the end of the year.
"The situation is that there will not be a decision on this before the next European Council meeting and before the end of the year,'' the Taoiseach said in Brussels today.
He made his comments after a speech at the Konrad Adenauer foundation, a German think tank, ahead of the summit of EU leaders in Brussels.
The Taoiseach said he hoped that during negotiations on the creation of an EU banking union next year, Ireland's bank debt would be dealt with "in parallel" by finance ministers.
Mr Kenny said that following his discussions with the German Chancellor Angela Merkel and the French President Francois Hollande it had been concluded that Ireland was "a special case".
He said that that would be taken into account during 2013 when finance ministers discuss the creation of a new EU banking union and a banking supervision mechanism.
"We hope that during the course of 2013 our Minister for Finance will progress in that understanding and that decision, and that it will be recognised in those discussions," he said.
Mr Kenny said that the bank debt issue comprised the recapitalisation of Irish banks which had already taken place, and the Anglo promissory notes.
He said he hoped that both elements required that the level of debt, which he described as a crushing burden, had to be "re-engineered".
The Taoiseach added that Ireland had received "a great deal of support" from the IMF, the ECB, the European Commission and political leaders.