Eyewitness News: New Greek finance minister to be sworn in

Ireland previously contributed €347m for a Greek bailout package in May 2010, a figure which was much lower as the country was still in its own programme.

Results showed about 61 per cent voted “no” compared with 39 per cent for “yes”, with 100 per cent of the votes counted.

Worldwide creditors have indicated that a yes vote in Greece will leave it open to a lifeline for further financial aid. Prime Minister Alexis Tsipras has denounced the price paid for aid as “blackmail” and a national “humiliation”.

There’s little chance Greece can repay its full debt, and basically no chance that it can run its government without access to credit, so more talks to try to find a deal are forthcoming. “But euro zone officials shot down any prospect of a quick resumption of talks”. Fear could “fill the country’s horizon” for years to come, he warned.

“We are monitoring the situation closely and stand ready to assist Greece if requested to do so”, Lagarde said.

At the same time, Greek banks are set to remain closed for a few more days, leaving the nation is a state of suspense. The Greek prime minister’s hand was further strengthened by a declaration of support for his negotiating position by three Greek opposition parties, including the centre-left Pasok and the centre-right New Democracy. On Monday, Greece’s creditors said the ball was in Athens’ court to present a credible deal. First indications were that any joint European political response may take a couple of days. The European Commission, the EU executive, meets in Strasbourg on Tuesday and will report to the European Parliament on the situation.”EU leaders must get together immediately, even on Monday”. The global Monetary Fund warned last week that it would need massive debt relief and 50 billion euros in fresh funds.

Transport Minister Paschal Donohoe yesterday said there would be huge risks to the Greek economy whether it was a yes or a no vote.