A deal has been reached between the British and Irish governments and Northern Ireland’s two largest parties to resolve the current crisis.
After 10 weeks of talks, a way forward has been agreed on paramilitarism and welfare reform.
However, they failed to break the deadlock over legacy issues arising from Northern Ireland’s Troubles.
Prime Minister David Cameron said the agreement was “an important turning point for Northern Ireland”.
“The agreement secures sustainability for Northern Ireland’s budget, sets out how we’ll deal with paramilitary groups, and could provide a basis for a shared future for the people of Northern Ireland,” he said.
The deal includes a new set of principles politicians will be asked to follow in relation to paramilitarism and a reworked financial package to help those impacted by welfare reforms and tax credit cuts.
While the Democratic Unionist Party and Sinn Féin have backed the deal, the executive’s Justice Minister David Ford, who leads the Alliance Party, said his party refused to support it today.
Other parties said they needed more time to study the document.
The US government has welcomed the deal.
Victims’ groups have said they are disappointed the deal does not include any movement on the legacy issues of the Troubles.