Taoiseach Enda Kenny said today that the crisis in the eurozone cannot be resolved overnight.
“These are vitally important topics and the meeting will be an important one,” Mr Kenny said.
“But – and I think it is important to note this at the start – it will not be the be-all-and-end-all.
“The crisis in the euro area will not be resolved overnight. There is no one magic solution or silver bullet.”
The Taoiseach said important proposals will be considered an emergency summit in Brussels tomorrow but further steps will be needed before “we are out of the woods”.
Mr Kenny said he will be watching carefully and working to ensure what is agreed for Greece will not make Ireland’s eventual return to the markets more difficult.
“The type of elements now being considered – lower interest rates, longer term loans, a greater flexibility of instruments – have the potential to make a positive contribution,” the Taoiseach said.
“On interest rates, we know the specific issues that have arisen for Ireland - we will continue to press for the reduction in interest rates agreed in March to be applied to us.”
Mr Martin said only dramatic, fast and comprehensive action can stop the crisis from getting worse.
“This is one of the most important summits in the history of the Union,” Mr Martin said.
“It falls to the leaders to show that they can rise above the crisis and show that they will take any measure to help member states and restore confidence.
“The can must not be kicked down the road again.
“These are vitally important topics and the meeting will be an important one,” Mr Kenny said.
“But – and I think it is important to note this at the start – it will not be the be-all-and-end-all.
“The crisis in the euro area will not be resolved overnight. There is no one magic solution or silver bullet.”
The Taoiseach said important proposals will be considered an emergency summit in Brussels tomorrow but further steps will be needed before “we are out of the woods”.
Mr Kenny said he will be watching carefully and working to ensure what is agreed for Greece will not make Ireland’s eventual return to the markets more difficult.
“The type of elements now being considered – lower interest rates, longer term loans, a greater flexibility of instruments – have the potential to make a positive contribution,” the Taoiseach said.
“On interest rates, we know the specific issues that have arisen for Ireland - we will continue to press for the reduction in interest rates agreed in March to be applied to us.”
Mr Martin said only dramatic, fast and comprehensive action can stop the crisis from getting worse.
“This is one of the most important summits in the history of the Union,” Mr Martin said.
“It falls to the leaders to show that they can rise above the crisis and show that they will take any measure to help member states and restore confidence.
“The can must not be kicked down the road again.
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