Kenny: Greece proposal must make 'economic sense'

The Taoiseach said any proposals from the Greek government aimed at securing a third bailout must make "economic sense".

Kenny: Greece proposal must make 'economic sense'

The Taoiseach said any proposals from the Greek government aimed at securing a third bailout must make "economic sense".

Speaking ahead of today's meetings of Eurozone leaders and finance ministers, Enda Kenny said the Greek Prime Minister was "doing the right thing" by returning to talks.

It's the first time that Europe's leaders will come face to face with Alexis Tsipras since Sunday's referendum - which saw Greeks reject strict bailout terms.

Taoiseach Enda Kenny says time is of the essence, but any proposals for a new deal must be "credible" - saying that every nation must manage its own tax affairs properly.

"We'll see what will emerge from the proposals that Greece put on the table," he said. "I would suggest that these propositions should make economic sense [and] should be fair."

It has been suggested that a debt write-down for Greece could cost Ireland up to €1 billion.

Meanwhile, the Public Expenditure Minister has denied that Ireland complained about the conduct of Greece's former Finance Minister.

Yanis Varoufakis stood down yesterday, saying that elements of the EuroGroup of Finance Ministers had issues with his role in negotiations.

Brendan Howlin said the Irish Government has never raised an issue about a member of another administration, and Michael Noonan has dealt peacefully with all the representatives.

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