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Virginia Mayo/AP

Enda Kenny says he believes a deal is possible for Greece

Finance Minister Michael Noonan earlier said he wasn’t optimistic a deal could be reached today.

Updated 22.50

EUROZONE FINANCE MINISTERS will continue talks on Wednesday to attempt to reach a deal with Greece on ending its debt crisis.

It’s believed that the talks between the Eurozone countries could end in a deal by the end of the week.

Speaking on his way into the crisis summit in Brussels, Taoiseach Enda Kenny said the latest proposals are “a basis for discussion”, adding:

“I’m happy to say there’s some movement [from Greece] and it’s the start of a more detailed process now.”

Earlier today the Greek economy minister, Giorgos Stathakis, told the BBC he was expecting a “very positive communique” from EU leaders about the latest proposals.

“They have accepted that the new proposals of the Greek government is a proper framework on which to work on and, with some adjustments that will be the issue of discussion for the next day or so, we’ll end up with proper technical solution as well,” he said.

Stathakis said the latest reform offer fit in with his anti-austerity Syriza government’s pledge not to make further cuts to key benefits.

There will be new taxation on business and the wealthier part of society and we will save pensions and wages,” he said.

European Council President Donald Tusk, who called the emergency summit ahead of a looming Greek debt default at the end of the month, said the Mediterranean nation’s leaders had made their “first real proposals in weeks”.

Belgium EU CELAC Summit Tusk and Juncker Geert Vanden Wijngaert / AP Geert Vanden Wijngaert / AP / AP

Not optimistic

Earlier, Finance Minister Michael Noonan said he wasn’t optimistic that EU leaders will reach a deal today to avoid a Greek default on its debt.

He was speaking in Brussels this morning at the start of a emergency summit on the Athens debt crisis with Greece facing default within days unless a deal is struck with its international creditors.

Noonan said there had been some confusion overnight because of the alternative versions of the Greek proposal coming through. It is hoped that concessions from prime minister Alexis Tsipras can secure a deal for his country.

But Noonan said the events overnight meant that it would be difficult for the finance ministers of eurozone nations to prepare for a meeting of EU leaders later.

“There are very low expectations of an agreement today,” he said, adding it was his expectation that there will be another meeting on Thursday before a full meeting of the EU Council.

We’re still not quite clear what the actual proposals [from Greece] are. We understand that the Greek authorities have made some movement and that’s to be welcomed. But it’s not clear that the movement is sufficient.

Asked by reporters in the rainy Belgian capital about what the events of the last 24 hours said about the current state of affairs, Noonan responded briefly:

It says a lot about the situation in Athens, it doesn’t say anything about the situation in Brussels.

noonan departure

Earlier, the EU’s economic affairs commissioner said the fate of Greece and the euro will “largely be decided” today.

“We are approaching an absolutely decisive moment,” Pierre Moscovici told French radio, adding that he believed a deal could be reached at the summit for Greece to avoid a default.

The latest proposals submitted by Greece “go in the right direction, they can allow a base for an agreement; in other words, there is still a lot to discuss,” he said.

But “I think the Greek government has finally understood that it had to send concrete and solid counter-proposals”, he added.

France’s Finance Minister Michel Sapin also welcomed the Greek proposals, saying “quality work” had gone into them.

Belgium Switzerland Taxation Pierre Moscovici Virginia Mayo Virginia Mayo

Earlier the office of European Commission President Jean-Claude Juncker said the proposals, which the Greek premier detailed in a phone call with German, French and EU leaders, offered “a good basis for progress”.

Greece and its international creditors are wrangling to end a five-month stand-off and agree what reforms Athens will undertake to unlock the latest tranche of its multi-billion-euro bailout in time for it make its latest debt payment and avoid default by June 30.

The heads of the 19 eurozone countries will hold an emergency summit on the crisis in Brussels later today under pressure to prevent Greece from defaulting, which could spark Athens leaving the single currency zone.

Late last week, the Irish government for the first time acknowledged it was preparing for a possible ‘Grexit’. Noonan said that discussion had been held at a high level with the State assets agency the NTMA and the Central Bank.

Speaking on Friday, Taoiseach Enda Kenny said: “I don’t have figures of what that [a Greek default] might mean [for Ireland] but I think what it will mean in Greece would be a very rapid spiral to a serious social set of consequences.”

- with reporting from Peter Bodkin, AFP

Read: Greek minister: Irish people’s feelings of mild superiority are unhelpful

Read: Ireland is now really thinking about what happens if Greece leaves the eurozone

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    Mute Sandra Corbett
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    May 8th 2016, 2:54 PM

    I’m from Cork. I’ve lived in Fort McMurray for almost 20 years. We got out safely on Tuesday and 2 of my kids who’d first been evacuated to the north got out on Wednesday. Fort McMurray has a large Irish community, many who had moved elsewhere in Alberta over the years. They’re the ones who’ve taken us into their homes and are helping us. People have been amazing with their generosity. We have no idea when we can go back and can only watch and wait.

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    Mute Paul Somers
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    May 8th 2016, 3:41 PM

    Wishing you a speedy return home, the Irish dispora in Alberta will be there to help you rebuild.

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    Mute Patrick J O'CONNOR
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    May 8th 2016, 5:31 PM

    @Sandra Corbett……..This is a huge tragedy and will be tough for all affected.But as you are finding out Albertans and Canadians care and will be there ’til this gets back to normal. I’m glad you are safely away from the danger. In case you or someone you know are unawares below is the FB help guide.
    —”An open-source Facebook page at https://www.facebook.com/Fort-McMurray-Evacuee-Open-Source-Help-Page-1542379816069211/ has been set up to help evacuees with information and resources. People have been using the page to assist evacuees with any items and shelter they might be able to offer. —”

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    Mute Notthatguy
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    May 8th 2016, 9:47 PM

    Make sure you have proof of address anywhere you go, offers are made to those affected, many stores, Walmarts and so on….

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    Mute Shaun Gallagher
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    May 8th 2016, 1:02 PM

    We have little to be giving out about.

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    Mute Paul Somers
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    May 8th 2016, 1:18 PM

    God help them – horrible to loose everything.

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    Mute Padraig
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    May 8th 2016, 1:23 PM

    Has anyone asked DHR if he think that God is punishing Alberta.

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    Mute KM TON
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    May 8th 2016, 4:08 PM

    Go away Padraig

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    Mute Deborah Behan
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    May 8th 2016, 2:36 PM

    I hope they get rain and soon.

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    Mute Patrick O Shea
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    May 8th 2016, 8:08 PM

    How are the gas fracking fields doing in the middle of this inferno?

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    Mute Philip O'Beachain
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    May 8th 2016, 8:42 PM

    Most are north of the town and looks likely the fire will miss them. However, most of them have shut down production for safety. This means that on top of the 80,000 evacuated many people who travel to the area for work now have a shortage of work until the foreseeable future.

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    Mute Sandra Corbett
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    May 9th 2016, 1:39 PM

    Mines around Fort Mac don’t use fracking method

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    Mute Eoin
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    May 8th 2016, 5:26 PM

    That’s what insurance is for

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    Mute Ronan McDermott
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    May 8th 2016, 9:29 PM

    That takes time you idiot. This is a very serious situation over here.

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    Mute Little Diddy No
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    May 9th 2016, 10:58 AM

    A tragedy for all involved – but the seriousness of these and many other wildfires is linked to climate change so we can expect these kinds of events to keep getting even worse all over the world sadly: http://edition.cnn.com/2016/05/06/opinions/sutter-canada-wildfire-climate/

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