Northern Ireland's political stalemate could be coming to a close after UK and Irish governments published a draft deal to restore Stormont.

The Assembly will be recalled on Friday to see if the parties will head to the Northern Irish seat of power and sign up to it.

It’s been exactly three years since the devolved government collapsed after the resignation of late deputy first minister Martin McGuinness.

It has failed to function in the years since, with neither the DUP or Sinn Fein able to compromise.

Northern Ireland Secretary Julian Smith has asked the speaker of the defunct house to hold a sitting on Friday morning, without the Stormont parties having yet agreed to all the proposals.

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He announced the plans along Irish Minister for Foreign Affairs Simon Coveney at a press conference this evening.

The bold move comes without the DUP or Sinn Fein having publicly signalled a willingness to agree to the terms of the deal – called 'New Decade, New Approach'.

It is understood that smaller parties including SDLP, Ulster Unionists and Alliance Party were also involved in talks although it is not known how much influence they have had.

"We have had three years of talks and there is finally a good deal on the table that all parties can support," Mr Smith said.

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Mr Coveney said the deal was "filled with compromises".

He added that the people needed to tell their politicians to take the opportunity and seal the deal.

"It's now time their politicians stepped up and fully represented their constituents," he said.

"It's time to show leadership and get back to powersharing in Stormont."

The deal represents the governments' joint assessment of how long-standing wrangles on issues such as the Irish language can be resolved.

Mr Smith said the parties realised they had reached a critical juncture.

"We have got one chance to get this right and I am under no doubt that everyone realises that this chance is now," he said.

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