The deal is done – Fine Gael and the Labour Party have agreed terms on Ireland’s new coalition government.

Enda Kenny has been confirmed as Prime Minister with Labor leader Eamon Gilmore as Deputy Prime Minister. Fine Gael’s Michael Noonan has landed the vaunted Finance Minister’s position.

Labor will have as many as six of the 15 Ministers with the final ministerial numbers to be sorted out before the new parliament sits on Wednesday.

Both parties will rubber stamp the deal at special delegate meetings in Dublin on Sunday afternoon.

Talks to form the new Government, which will enjoy a massive majority in the 31st Dail, concluded successfully early on Sunday morning.

Kenny and Gilmore only entered the talks at the final stages to iron out the last remaining problems between the right wing Fine Gael and the left wing Labor parties.

Speaking as he left Government Buildings just before 1am Sunday morning Irish time, Prime Minister elect Kenny said: “I am happy we have concluded an agreement.

“There are still some final details to be worked out before we make presentations to both parties on Sunday afternoon but the deal is done for the new Government.”

Labour leader Gilmore will also present the deal to his party delegates at a special meeting in Dublin on Sunday.

As he left the talks, Gilmore said: “I am happy to report that we have reached agreement on the necessary issues.

“My intention now is to recommend this package to the special Labour delegate conference. There is still some work to be done on the final drafts, that is continuing and will be examined ahead of the conference.
“The number of ministers for each party will be decided and announced before Wednesday.”

Details on the agreement between the new coalition partners on plans to reduce the national deficit to 3% have yet to be announced.