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Greece default fears

FINANCE Minister Michael Noonan dismissed suggestions that a Greek default would have a knock-on effect on the fragile Irish economy.

Stocks plummeted across the continent yesterday as finance ministers in the eurozone stalled in relation to any decision about giving them the latest €8bn tranche of their bailout loan.

Greece admitted it will not meet the deficit reduction targets set for it at the end of the year.

They believe it will be 8.5pc compared with the 7.6pc target.