Tánaiste Eamon Gilmore has said that the Government would be seeking a contribution from bondholders - including senior bondholders in Anglo Irish Bank and Irish Nationwide - as part of the recapitalisation of the banks.
Attending the ICTU Conference in Killarney, Gilmore said the Government had not yet quantified that contribution.
He said there would be continuing dialogue with the Troika, and particularly with the ECB, in relation to the issue of bondholders.
Asked if he detected any softening in the Troika's position to date, Gilmore said he thought it was fair to say that four months on, the Irish position was 'much more understood' than it was at the beginning.
Asked about the profits the Troika agencies stood to make from Ireland's bail-out, Gilmore said that was the very reason they were seeking a reduction in the interest rates.
In his speech, Gilmore said the current crisis was of such magnitude and complexity that it had effectively put the new Government on a war footing, with nothing less than Ireland's sovereignty at stake.
He said sectoral interests, including party-political interests, would have to be set to one side.
Mr Gilmore made his comments as officials from the European Union, the European Central Bank and the International Monetary Fund arrived in Dublin today to carry out their latest review of Ireland's bail-out package. The review is scheduled to finish by 14 July.
It is expected to be relatively straightforward, as the conditions set out in the last review have almost all been satisfied.
Economics correspondent Sean Whelan looks at the review in more detail here
These include the latest Exchequer figures, measures to sort out the banks and a new bill to give extra powers to the Central Bank.
The teams are, however, likely to start preliminary talks on the next review, scheduled for September, which is expected to be a much tougher affair as it will lead in to the Budget.
As the Taoiseach and Tánaiste have stated that there will be no income tax rise nor cuts to social welfare rates, the EU-IMF team will be keen to know how the Government intends meeting the agreed targets for the deficit this year.
