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Attending a summit in Brussels, Michael Noonan says it is “very important that the eurozone stays intact”.
Jean-Claude Juncker says he wasn’t impressed by France and Germany acting “as if they are the only members of the group”.
Eurozone members have agreed to release the first €39.4 billion of funds under Greece’s second bailout programme.
A meeting of Eurozone finance ministers sees Spain encouraged to frontload budget cuts in order to achieve EU deficit targets.
The ratings agency has downgraded Greece just one day after EU leaders agreed on a €130 billion bailout deal for the country.
A meeting of eurozone finance ministers due today has been put back until Monday, due to concerns over “political assurances”.
The Greek Prime Minister said that there was “broad agreement” on all points of the new programme -with one exception.
Although the Budget deficit for 2012 will be within EU limits of 3 per cent of GDP, it’s only because of one-off windfalls.
The Greek opposition have refused to sanction new austerity moves – and now the IMF is threatening to hold up on payments.
There’s no deal from Brussels over whether to add more money to the bailout pot, but support is growing.
So-called ‘E-bonds’ would help to prompt renewed confidence in the currency and make it easier to borrow, claim ministers.
Lenihan maintains Ireland had been “the point of attack” on the state of the euro in recent weeks – but commentators believe ECB, IMF and EC officials coming here to lay groundwork for bailout.