Opposition parties, employers and unions have welcomed the deal to enable a second referendum on the Lisbon Treaty to take place next year, however, anti-treaty parties have dismissed the agreement,.
The key elements of the deal, which was agreed at an EU summit in Brussels this morning, involve agreement that all EU states retain a commissioner, and that legal guarantees on issues of concern to the Irish electorate such as neutrality, abortion and taxation are accepted.
Fine Gael welcomed the agreement but said sufficient time must be given to the public to study and debate the proposed changes agreed today.
The Labour Party said it considered the proposal to retain the right to nominate an EU Commissioner to be "a significant change" from the deal which was voted on last June.
It added that while the Brussels summit appears to represent a step forward, it did have concerns over a possible row back on the Charter of Fundamental Rights.
"Two issues that were of major concern to Irish voters last June, related to workers rights and the provision of universal services," said Labour Party leader Eamon Gilmore.
"These issues must be resolved to our satisfaction prior to any new referendum. This will not only require a robust guarantee at EU level, but also the enactment of a number of pieces of long promised domestic labour legislation."
Employers' group Ibec said the assurances provide a way to move forward so that Ireland can return to its place at the centre of European decision-making.
“The rejection of the Lisbon Treaty has created great uncertainty about Ireland's relationship with Europe, at a very challenging economic time.The assurances agreed by EU leaders today begins the process of addressing this uncertainty," said Ibec director general Turlough O'Sullivan.
"Irish businesses are facing increasingly difficult economic conditions and many jobs are at risk. Now more than ever is a time to focus our attention on working with our European partners to address our shared concerns."
However, Sinn Féin Dublin MEP Mary Lou McDonald today described the Lisbon deal as ‘an exercise in smoke and mirrors.’
Ms McDonald said the agreement to have legally binding guarantees meant nothing as they were not legally binding.
"Unless 'protocols' are secured and ratified by all members states 'guarantees' as described by the government are worthless," she said.
"The Irish people voted for a better deal and they rightfully expected the country's leader to make that better deal happen. Brian Cowen and Micheál Martin have failed to address the peoples concerns. They have failed to negotiate a better deal," Ms McDonald added.
