Michael Noonan says he's never taken a 'hard line' against Greece - as Eurozone finance ministers meet to discuss the country's future in the single currency. 

Prime Minister Alexis Tsipras is bringing forward new bailout proposals today - just days after the Greek public rejected strict terms offered by Europe.

It's understood his plan includes a demand for Greece's 320 billion euro debt to be cut by up to 30 per cent - however, Germany has warned there will be no unconditional write-off.

Finance Minister Michael Noonan says he hopes a solution can be found - and has denied Ireland is being 'tough' on Greece.

Today's meetings are seen as a crucial bellweather on whether any deal with Greece can be reached.

While the ECB is maintaining its emergency cash lifeline for Greece's banks, which remain shut until Thursday, the sentiments after today's meeting are likely to determine whether they can re-open on as planned.

Given the likelihood of mass withdrawals from the banks when they open again, an increase in the ECB's cash lifeline would be needed - but the ECB is instead only maintaining its current level of assistance, while also making it harder for banks to access it.

But the ECB's view of today's meetings is likely to be the crucial factor in whether the lifeline of 'Emergency Liquidity Assistance' can be maintained or increased.

Our political correspondent Gavan Reilly filed this report for Today FM's National Lunchtime News: