The political turmoil in Greece comes as Finance Ministers from the 17 countries that use the euro meet in Brussels later.
The banking crisis in Spain is also likely to top the agenda.
Elsewhere, the French President-elect Francois Hollande will be sworn into office later and will immediately travel to Berlin for his first face-to-face meeting with the German Chancellor Angela Merkel.
Meanwhile, The Tánaiste and Minister for Foreign Affairs is in Brussels today for a meeting of the the EU Foreign Affairs Council.
Eamon Gilmore said he will be raising the issue of Israeli settlements during the meeting, in a bid to make progress on the Middle East peace process.
Developments in Syria and Libya will also top the agenda at today's gathering, as will EU relations with Russia and Ukraine.
Deputy Gilmore said the meeting presents an opportunity to look at strengthening the EU's relationship with Russia and supporting positive change in the wake of the recent elections and the new Russian administration.