EU leaders have reached an "historic" deal on a huge massive stimulus plan for coronavirus-hit economies.
The Government is insisting Ireland will benefit hugely from the EU coronavirus recovery package.
Under the deal, Ireland will have to contribute to countries who have been hit hardest by Covid-19.
€390 billion of the fund will go to countries in the form of non-repayable grants, and 360 billion in loans.
European Affairs Minister Thomas Byrne thinks the package will benefit the Irish economy.
''Ireland benefits probably second on the list from the of all countries in the EU from the single market'', he said.
''So it's really important for us that all of Europe is doing well, that's how our businesses both small and large succeed and how jobs are created.
''So the fact we were pushed very hard in a modern group for an agreement is critically important for Ireland''.
''Historic''.
The deal has been labelled as "historic", after the grueling summit which lasted almost five days.
Summit chairman Charles Michel tweeted "Deal" shortly after the 27 leaders finally reached agreement at a plenary session.
Deal!
— Charles Michel (@eucopresident) July 21, 2020
"This agreement sends a concrete signal that Europe is a force for action," Mr Michel said at a dawn news conference.
"It is about a lot more than money. It is about workers and families, their jobs, their health and their well-being. I believe this agreement will be seen as a pivotal moment in Europe's journey, but it will also launch us into the future."
