Ireland could face €220m bill to help bail out Greece

IRELAND could be asked to contribute over €220 million to an EU fund to help bail out Greece.

Discussions continued late last night ahead of today’s summit of EU leaders dealing with how to provide finance for Greece if it fails to raise the €20bn it needs over the next two months.

Ireland agrees with Germany that the International Monetary Fund must be the first port of call for the stricken economy. However, it accepts the eurozone must also play a role and provide a line of bilateral loans that can be called on if needed.