The deal on the Anglo Irish Bank promissory notes is forecast to give consumer spending a boost.

That's according to research by IBEC which has found that our spending power will stabilise this year and looks set to rise next year.

However unemployed households will see their household budget reduced as prices continue to rise.

On Wednesday night the Dail passed a bill which effectively winds up the IBRC,  formerly Anglo Irish Bank and Irish Nationwide.

Following leaks of a possible disbanding of the organisation, Minister Noonan told the Oireachtas that the government's hand had been forced in the matter, and that the bill needed to be passed as a matter of urgency.

He also said the government is now working on extending the maturities of the loans which Ireland has already taken from the EFSF and the ESM.

Senior Economist with the group, Reetta Suonpera,  says the deal is good news for some:

You can watch the Dail debating the IBRC dissolution below: