Noonan: I have never had a hard line approach to Greece

It is understood his plan includes a demand for Greece's €320bn debt to be cut by up to 30%, but Germany has warned there will be no unconditional write-off.

Arriving for talks with his peers in the 19-country eurozone, Finance Minister Michael Noonan says he hopes a solution can be found, and has denied Ireland is being "tough" on Greece.

He said: "I've been involved in the principal meetings about Greece and I think I have a lot of witnesses to show that I have never had a hard line approach to Greece.

"I've always said that Ireland wants Greece to stay in the euro group and that we are prepared to negotiate, and we see restructuring of the debt as part of the negotiation."

Mr Noonan said Greece should do something relatively simple to turn things around: take a look at his nation. He said Ireland was able to work with its debt load to make it more manageable.

He suggested Greece could also come forward with debt proposals, even if they would be different from Ireland’s.

“There is not a one-size-fits-all that we are looking at,” he said.

Ireland is forecast to post the strongest economic growth in the 28-nation EU this year.

However, Sinn Féin is calling on the Government to move to support a debt writedown for Greece.

The party is also rejecting as scaremongering claims by the Department of Finance that a third bailout for Athens could cost the Irish taxpayer €1bn.

Pearse Doherty says the Government has to show leadership and deliver debt writedown for Greece, and Ireland.

He said: "Sinn Féin has been very consistent. What is needed here is a discussion at the heart of Europe in relation to overly indebted nations - that includes Greece and includes Ireland and a number of other nations.

"That is something Sinn Féin put to this government when Syriza was elected, it was an opportunity to have that discussion.

"Unfortunately that discussion is now happening in the absence of Ireland's position and I think that is a big, big mistake for the Irish Government."

The eurozone's top official, Jeroen Dijsselbloem, said the pressure is on Greece to come up with fresh economic proposals that meet the requirements of its partners in the single currency bloc.

Mr Dijsselbloem said the Greek government has “a major interest” in bringing forward “serious and credible” proposals that are needed if Greece is to get another bailout.

Greece is running out of time to secure a deal that will help its banks reopen and avoid a disorderly euro exit.

The eurogroup president also said the resignation of Yanis Varoufakis, Greece’s outspoken finance minister over the past few months of the protracted bailout discussions, would not necessarily make a difference. Mr Varoufakis has been replaced by the more mild-mannered Mr Tsakalotos.

“It is not about persons,” Mr Dijsselbloem said. “It is about where we stand after the No referendum.”

German finance minister Wolfgang Schaeuble said Berlin still opposes an actual debt cut for Greece as he arrived at the meeting.

Mr Schaeuble said he is waiting with interest to hear the ideas of the Greek government but stressed that without an aid programme, there is “no possibility to help Greece within the framework of the eurozone”.

Germany is reluctant to consider a debt cut for Greece. The Greek government wants debt relief for the country to be near the top of bailout discussions. That does not necessarily mean an actual reduction in the amount owed – it could take the form of extending the country’s repayment schedule.

Mr Schaeuble said actual debt cuts are banned under European rules.