The German Chancellor has called for structural reforms within Europe to boost employment.
Speaking at the opening of the World Economic Forum in Davos, Angela Merkel told delegates that Germany has already demonstrated its determination to play a full part in combating the eurozone crisis, but said that further reforms were needed.
The Taoiseach has joined hundreds of the world's most influential opinion formers, heads of government and business leaders at the event.
Speaking in the Dáil earlier today, Enda Kenny said the Government is not looking for any write-off in respect of debts owed to the International Monetary Fund and the European Union.
He said: "We have paid our way and will pay our way".
The Taoiseach said the priority now is working with the European Central Bank, and Ireland’s colleagues in Europe, to get greater flexibility with regard to the promissory notes that are going to cost the country €3bn a year for the next ten years.
Mr Kenny said that this process is now in train and has been "enhanced by a proposal by the Troika itself".
Carney sees reduced risk of Europe bank crisis
Recent policy steps in Europe have "dramatically reduced" the risk of a Lehman-style banking failure there, Bank of Canada Governor Mark Carney said
However, he fell short of saying he was optimistic that a worst-case scenario had been averted.
Decisive action by the ECB to provide liquidity to the region's financial system has eased market pressure on Spain and Italy and boosted demand for their bonds, said Mr Carney, who became head of the G20's Financial Stability Board (FSB) in November.
Mr Carney said global policymakers gathering in the Swiss resort were realistic in their view that the process of global deleveraging now under way will be a multi-year process, "measured in decades".
As global regulator, Mr Carney often hears complaints that some of the new banking rules are unfair to one country or another and he insists that his job is to make sure they are applied evenly across all jurisdictions.
