German Finance Minister Wolfgang Schaeuble has said Greece's exit from the eurozone can definitely be prevented but that it was up to Greece to abide by its agreements.

"European solidarity isn't a one-way street," Mr Schaeuble told Germany's Bild am Sonntag newspaper.

"You can't have one without the other. If anyone in Greece thinks that's the case, then they're massively fooling themselves and the voters."

Amid discussions in Germany and elsewhere about a possible Greek exit from the eurozone, Mr Schaueble was asked if that could still be prevented.

"Naturally. Because that's exactly the goal we had in mind when we agreed to the extensive rescue efforts and reform programmes that free the country for years from having to get loans in financial markets.

"Now it's up to Greece to abide by its obligations," he said.

Mr Schaeuble said he hoped that Greece would have a stable government as soon as possible.

"The current situation is causing public uncertainty. That's exactly what political leaders shouldn't do."

Greek voters this month toppled a government that had agreed to painfully austere terms of an international bailout plan, and uncertainty hangs over the next election set for 17 June.

ESM will have to lend to banks directly: Creighton

Meanwhile, Minister of State for European Affairs Lucinda Creighton has said she believes that to ensure the Spanish banking system does not collapse, the European Stability Mechanism will have to be in a position to lend directly to banks.

Minister Creighton told the Marian Finucane Show that she agreed that the ESM will ultimately have to have some sort of banking licence.