Updated: 1.35pm
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Everyone’s talking about…
Greece is still top of the news agenda, with Prime Minister Alexis Tsipras due to present new bailout deal proposals at an emergency EU summit in Brussels.
A Greek exit is still a very real possibility, but a new agreement could yet be hammered out.
If this does happen, many people are questioning the potential implications for Ireland, Portugal and Spain – which all received bailouts.
German MP Ralph Brinkhaus told Morning Ireland a significant debt writedown could send out the message that “you do not have to pay back your debt” if you “resist”.
Nobody at the end of the day wants to lose Greece out of the eurozone … but we will not pay any price for it.
Brinkhaus said that in order to create growth in Greece, reforms have to be introduced as well as investments in infrastructure and industry.
He described the situation in as “a tragedy for the Greek people”, but said it is difficult to convince countries such as Bulgaria and Romania they should support Greece as it has a higher wealth level.
On the same programme, Agriculture and Defence Minister Simon Coveney denied a new Greek deal would lead to Ireland seeking better repayment terms. He said the terms we have now are better than the original agreement and a debt write-down for Greece is unlikely.
Of course they want debt relief, we wanted debt relief… but it’s not on the table.
Coveney said Ireland wants Greece to stay in the eurozone, but added that the country needs to come up with “credible” plan in order for this to happen.
Banks in Greece are set to remain closed until Thursday. The emergency summit will take place in Brussels at 5pm Irish time, after a meeting of eurozone finance ministers.
On the way into cabinet this morning, Enda Kenny said: “Time is of the essence now.” The Taoiseach stated that the Greeks are “doing the right thing here in bringing new proposals to the eurozone … so we’ll see what emerges”. He added that any deal must “make economic sense”.
Speaking this afternoon, Fianna Fáil’s finance spokesperson Michael McGrath told reporters: “When it comes to Greece the last thing we need is for another extend and pretend deal. We have consistently said over the last number of years that the deals which we entered into with Greece were hopelessly unrealistic.”
We’re in favour of [debt relief] being on the table, and in our view it should certainly be on the table … The Greek economy really is collapsing before our very eyes.
Meanwhile, his colleague Niall Collins said the latest developments prove Brian Cowen’s Fianna Fáil government acted in the best interests of the country – as the former Taoiseach indicated at the banking inquiry last week.
People are getting a better understanding and a realisation of what the potential downside and the potential consequences here in this country were when Brian Cowen had to take the decisions that he and his government had to take at that point in time.
“We were told at the time that the banks could collapse, that the ATMs would close down and a lot people rubbished it at the time. They thought there was a simple solution,” Collins stated.
The agenda
Inside Leinster House
Labour TD Pat Rabbitte confirmed he won’t be seeking re-election in Dublin South West. Tánaiste and Labour leader Joan Burton led the tributes to the former minister.
What the others are saying
In case you missed it
On the Twitter machine
Simon Coveney met the LÉ Eithne crew.
Originally published: 9am
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