Taoiseach says time running out for Greek solution

Taoiseach Enda Kenny said time is running out to reach a solution to the Greek crisis and said the country is now getting close to “real crisis time”.

Mr Kenny, who will attend an emergency summit of European leaders on Monday, said he was hopeful this crisis could be averted.

He said the instability and the indecisiveness is really hurting the people of Greece and this was "exceptionally difficult".

Speaking at a meeting of the British-Irish Council, Mr Kenny said he feared a “Plan B” for Greece may be needed.

The Taoiseach said: “We are getting closer to having to adopt a Plan B for Greece, and I am not sure where things are going.”

Mr Kenny said there has been strong support, encouragement and assistance for the Greek government.

“I’m not sure what the outcome will be. I made the point to the Greek prime minister that stability is what the people of Greece need now. They need to put an end to the instability,” he said.

“I hope we can bring an end of that instability. I’m not sure what extra can be decided on Monday but I do hope we can resolve the situation.”

Mr Kenny was asked about the implications for Ireland if Greece defaults.

He confirmed Minister for Finance Michael Noonan is taking advice from the Central Bank and the NTMA.

“We don’t have figures as to what that might mean.

“For Greece a default would mean a very rapid social spiral and that it is why it is most important that the integrity of the euro zone be maintained.”