The Central Bank is predicting 8 more years of difficult budgets if Ireland is to comply with the EU Fiscal Treaty.

A paper published by the Bank today says that it will be 2020 before Ireland meets the balanced budget targets set down

by the Treaty.

Earlier this year the Irish people voted yes to the EU Fiscal Treaty which sets out a list of new Budget rules which all EU member states must follow.

Today the Central Bank has published a paper identifying what current and future Irish governments will have to do in order to comply with those rules.

It says that while fiscal targets remain on-track to 2015 that many uncertainties prevail.

The report finds that if Ireland is to meet its obligations to bring in balanced budgets it would require 8 more years of budget adjustments.

This would require a primary balance of 3.6% per annum until targets are met in 2020.

Homicide detectives investigating the disappearance of Jill Meagher have returned to the home she shares with her husband Tom for a second search.

Police say that search is a routine part of the on-going investigation.

They say they have identified the missing Drogheda woman on CCTV footage taken in Melbourne.

The footage is believed to show the 29-year-old walking north through Brunswick near Hope Street at about 1.41am on Saturday just after she left a pub.

They are also investigating whether her handbag was planted in a laneway near Hope Street after an initial police search at the weekend failed to find it.

ABC reporter Lisa Macsimovic says the search for Jill has really captured the imagination of the public.

“Tom and other relatives and friends have set up a social media campaign, and many people in Ireland have also logged on to a Facebook page” she said.

“We’ve had in excess of tens of thousands of people now that have liked that page”.

“They’re downloading posters that have been uploaded to that site; there are posters all over the city of Melbourne in the hope of finding Jill”.

“But of course now, we’re looking at 3 or 4 days in since her disappearance – and sadly police hold grave fears for her” she added.

The Justice Minister says those behind 2 murders in Laois and Dublin yesterday have ‘absolutely no respect for human life’.

Alan Shatter has branded the killings ‘barbaric’ and the perpetrators ‘evil’.

In a statement the minister says Gardaí are determined to do everything possible to bring those responsible to justice.

The first victim was 27-year-old Gerard Eglington.

He was gunned down in Laois yesterday morning.

While 31 year old Declan O’Reilly was shot dead on the South Circular Road in Dublin last night.

Crime Journalist Paul Williams says the investigation into the killing of Declan O’Reilly is in its early stages.

“There won’t be any clear picture as to why he was murdered for some time” he said.

“But last September, O’Reilly was shot and very seriously injured – he was shot 4 times in the chest – and miraculously escaped death”.

“A gunman on a bicycle came up beside him and tried to finish him off with a bullet in the head, and the gun mis-fired – or he missed” he added.

Motorists travelling to the National Ploughing Championships in Co. Wexford are being warned of lengthy delays on some approach roads.

Gardai say a tailback from Waterford city to New Ross reached at least 12 kilometres this morning.

Thousands of people have already turned out for the opening day of the event at Heathpark just outside New Ross where conditions are wet this afternoon.

Chief Superintendent John Roche is from Wexford Garda Station.

He is urging people using the M9 to take the Carlow and Kilkenny exits.

“Particularly coming from the Midlands, coming from Dublin – come off the M50, come down the M9; but leave the M9 at the Carlow exit” he said.

“Come in to Bunclody, come down through Enniscorthy”.

“We had very little traffic on the routes (of) the N11 through Enniscorthy, through Bunclody and across the M25 from Wexford”.

“Our main route where we had congestion – and we still have congestion – is from Waterford” he added.

Flood warnings have been issued for parts of the country as heavy rain continues.

Met Eireann is expecting more downpours with local flood warnings for the East and North.

Newstalk’s Jack Quann has more.