PROGRESS: Ireland is running ahead of its goal to slash its deficits and seeing progress in its attempts to wean itself off its $82 billion international bailout and start paying its own way, according to the European Union, European Central Bank and International Monetary Fund. The troika said Ireland is on course to slash its deficit to back below 3 percent of its economic output by 2015.

DEAL IN WORKS: Irish Finance Minister Michael Noonan said the country is hopeful of securing a deal with EU chiefs by October that would remove tens of billions’ worth of banking losses from of Ireland’s national debt. The hope is to refinance and improve the terms Ireland must pay.

Recommended Stories

IMF admits ‘notable failures’ in Greek bailout

Portugal rating cut again, deepening debt crisis

Pressure mounts on Portuguese government