Sinn Féin President Gerry Adams has described the agreement made in Brussels to protect the euro as a "missed opportunity" and a bad deal for Ireland.
The party said Greek banks are being forced to share the burden, while Irish banks continue to be propped up by the taxpayer.
Mr Adams said the Taoiseach Enda Kenny has serious questions to answer about the deal.
Mr Adams said: "He is on his way home in a plane having negotiated a 50% write-down of debt for the Greek people, and we are not opposed to that, but he is now going to get ready a cheque for €700m which he is going to pay next Wednesday to unguaranteed bond holders in Anglo Irish Bank.
"There is no political or legal or indeed moral obligation to do this. I think the Government have missed an opportunity."