According to the Finance Minster Michael Noonan the Irish taxpayer will lose up to €350m if Greece decides to default on its debts.
Mr Noonan’s made the announcement following the Greek general elections were new Prime Minister Alexis Tsipras was brought in to lead an anti-austerity government. It is thought that the new Greek government is demanding a new series of talks with fellow governments in order to write off some of its €320bn in debts.
The planned move has seemingly outraged Mr Noonan and he believes that the Greek government would be better off by doing some of the things that Ireland has done already.
Mr Noonan told reporters: “The issue for Greece is not debt cancelation, it is the affordable ability of the debt,” said Noonan. “If you look at Ireland’s situation, we have been restructuring debt all the time.”