Greek lesson for Ireland
Greece has requested that an EU and IMF aid package be activated, which is aimed at pulling it out of debt crisis. Eurozone countries, including Ireland, are to provide €30bn in loans, with another €15bn coming from the IMF.
This level of direct supervision of a member state's finances is something that the EU has never attempted before.
The most significant reaction came from German Chancellor Angela Merkel, who said that the EU must judge whether the stability of the euro area was threatened by Greece's debt crisis.