Dáil Éireann Debate, Tuesday - 14 July 2015
253. Deputy Bernard J. Durkan asked the Minister for Finance the steps that have been taken at EU and member state level throughout the European Union to address any issues arising in the event of a Greek exit from the Union or the eurozone; and if he will make a statement on the matter. [28956/15]
View answerOn 13th July, euro area Heads of State and Government (HoSG) agreed that, subject to the Greek authorities implementing legislation in a number of policy areas over the next week or so, negotiations on an ESM programme of financial assistance can begin. This is a positive development and my hope is that the necessary legislation and measures can be adopted.
Having said that, my officials have contingency plans in place for a number of eventualities, including the possibility of Greece leaving the euro area.
It is important to stress that, at a euro area level, the institutional framework has been strengthened significantly in recent years, as is evident from the fact that the market reaction to recent developments has been relatively muted.
