The US President has praised the agreement between parties in the North.

Barack Obama says the deal shows that where there is a "will and the courage to overcome the issues that have divided the people of Northern Ireland - there is a way to succeed".

The talks on welfare, the past, flags and parades involved both the British and Irish Governments and lasted 12 weeks.

Foreign Affairs Minister Charlie Flanagan says the US deserves credit for its role in the talks:

The Minister revealed he considered 'breaking for the border' at one point in the latest round of talks in the north.

The 12 weeks of negotiations resulted in the setting up of a commission on flags, identity and culture, and agreement was also reached on a deal for financial and welfare reform.

First Minister Peter Robinson has hailed the deal as a 'monumental step forward'.

Minister Charlie Flanagan admitted this morning it has been a long and challenging process:

The agreement covers 75 sections, covering a broad range of issues and sets out a plan for financial and welfare reform. It also proposes a establishing a commission for dealing with issues surrounding flags, culture and tradition.

Originally posted at 10.54am