Quinn: New EU treaty 'could be looked at'

Education Minister Ruairí Quinn has said that the possibility of a new EU Treaty "could be looked at", although such a move would be at least three years in the making.

Minister Quinn was reacting to comments from the French and German leaders, who met yesterday ahead of a crucial summit of EU leaders later this week.

Both countries are among 15 Eurozone members who have been warned they could have their credit ratings downgraded if a solution to the debt crisis is not found.

Looking towards that crunch summit later this week, Minister Quinn said that the Taoiseach will consider every realistic effort to prevent the break-up of the euro.

"The single currency is a bit like a joint between life partners and business partners," he said.

"There have to be rules as to how you administer it.

"We need to look at the rules within the 17 member states, and I think what the Taoiseach is likely to say is that if you can tighten up the rules within that eurozone, that's the start, and if that, down the road subsequently, would require and necessitate some form of treaty change, well then that could be looked at."