Minister for Finance Michael Noonan has said there appeared to be more hopeful signs in the last 48 hours that the world leaders at the G8 summit were moving towards a resolution of the European situation.

He said the United States, in particular, seemed to be responding to demands in Europe that a jobs and growth strategy be part of that solution.

Taoiseach Enda Kenny was the first to promote a jobs and growth strategy, Mr Noonan claimed.

European leaders will meet at a summit later this week.

Mr Noonan said their priority will be to formulate policies that add growth and jobs to the fiscal correction projects that are taking place in all countries of Europe now.