London - The main parties in the power-sharing government in Northern Ireland ended five months of political stalemate in the province Tuesday by agreeing a deal that maps out the road ahead for a completion of the peace process.

First Minister Peter Robinson, who also leads the Protestant Democratic Unionist Party (DUP), and his deputy, Martin McGuinness of the Catholic Irish nationalist party Sinn Fein, said regular meetings of the executive, or cabinet, would resume on Thursday.

The executive has not met since June as a result of disagreement over the transfer of policing and justice powers to the executive and the Northern Ireland Assembly, or regional parliament, from the British government in London.

Robinson said there had been a "satisfactory resolution of the most difficult issues."

"We believe these arrangements are capable of gaining the confidence of the community and we look to the prime minister (of Britain) to make good his commitment of helping to resolve the financial arrangements relating to the devolution of these powers."

McGuinness said "significant progress" had been made. Both ministers said they wanted devolution to happen "without undue delay."

The breakthrough was welcomed by the governments in London and Dublin.

British Prime Minister Gordon Brown hailed the deal as an "historic day" for Northern Ireland. The two sides had agreed on the "last building block" for completion of the peace process.

In Dublin, Irish Prime Minister Brian Cowen said: "It is of great importance that devolution of policing and justice powers proceed. Its successful completion will be the final piece of the jigsaw of the peace process." (dpa)