Gilmore: Govt concerned by possibility of Greek default

The Tánaiste Eamon Gilmore has said the Government is concerned by the increasing fears that Greece could default.

Global stocks are suffering losses again today due to concerns that the efforts being undertaken to resolve the EU debt crisis are failing.

The German Chancellor Angela Merkel is trying to ease the fears of a Greek bankruptcy, saying that an uncontrolled insolvency must be avoided to ensure the 17-country Eurozone stays intact.

Eamon Gilmore believes there has to be a greater urgency in implementing the measures agreed by EU leaders in July to contain the problems:

"Some of the problems that we have seen in the eurozone…have been due in some measure to a perceived delay in implementing the July 21 measures."