Taoiseach Enda Kenny has said that he expects to discuss Britain's relationship with the European Union during a bilateral meeting with British Prime Minister David Cameron before the June meeting of the European Council.

Mr Kenny said he spoke to Mr Cameron this morning and congratulated him on the general election victory of the Conservative Party.

Mr Cameron has reaffirmed that he will fulfill his campaign pledge to hold a referendum on Britain's membership of the European Union, after he attempts to improve the country's terms of membership.

Diplomats in several EU states are urging him to lay out a clear road map for negotiations, including a referendum date.  

Speaking in Co Sligo, Mr Kenny said the two leaders would also discuss Northern Ireland.

Mr Kenny said there would be serious implications for Ireland if Britain left the EU, but Mr Cameron has indicated that he wishes to stay within the EU.

Earlier, the Minister for Finance said the Government would be supportive of talks between the European Commission President and British authorities on the UK's future in the EU.

Speaking in Limerick, Mr Noonan said he looked forward to meeting George Osborne in Brussels next week after he was reappointed as Chancellor of the Exchequer.

Mr Osborne is expected to play a big role in Britain's attempts to win back some powers from the EU before holding a referendum before the end of 2017 on whether to remain in the bloc.

EU Economic and Monetary Affairs Commissioner Pierre Moscovici yesterday said Britain belongs in the EU and the cost of leaving it would be considerable.             

"Britain's place is in the European Union, in its own interest and in the EU's interest," Mr Moscovici said on France’s Europe 1 radio station.                          

"All economic studies show that the political and economic cost of what is called a Brexit would be considerable, and first of all for the United Kingdom," he said.