Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As I said, I have great sympathy for the Greek people and absolutely recognise, as anyone would, the mandate given to the new Greek Government by Greek voters and the Greek population, but I am holding my position until I hear the proposals because to speculate now might give absolutely the wrong steer, as the situation is very sensitive. I thought there would be more time, but things have moved very rapidly in a very short space of time. However, I do not think the discussions will conclude tomorrow. We will have the Eurogroup meeting, to be followed by the ECOFIN meeting on Monday and Tuesday next. It is more likely to come to a head at that stage, if it is to come to a head in the medium term.

As regards the Irish position on what space will be allowed to the Greek Government, it will depend on the nature of the mechanism to provide that space. If the position of many European colleagues is accepted that they will accept the conditionality of the existing programme and commit to complying with it, I am not too sure. In terms of bridging finance through Treasury bills, I can foresee getting into difficulty with the ECB, although I do not want to be categoric. The issue is sensitive and I do not want to reject any proposal before I see the detail, but, generally, as I said, I will have a sympathetic approach.