Tánaiste Eamon Gilmore is to meet Britain’s foreign secretary William Hague today for talks which are expected to include discussions on the banking crisis.
Mr Gilmore told the Dáil he would also be travelling to Paris shortly as part of the Government's discussions with European leaders to secure relief for the Irish taxpayer from the burden of a "huge level of bank debt".
But he said Ireland had to be careful that "we don't hang our hat entirely" on the Spanish situation.
"It may be that a solution will be found to the Spanish banking system which is translatable to Ireland," he said. "However, we do have to be careful that what may be applicable to Spain may not be directly applicable to Ireland and we have to have a solution which is suitable for Ireland."
He rejected claims by Sinn Féin deputy leader Mary Lou McDonald that he and the Government are now hedging their bets "as to whether or not the Spanish might pave a way for some resolution to our debt burden".
Ms McDonald accused the Tánaiste of "fudging" the issue and of having "sold the people a pig in a poke".
She added: "You will fuddle along in the hope that Spain will save your blushes."
The Dublin Central TD had asked Mr Gilmore to give a clear answer as to what the Government was seeking now from the EU in relation to Ireland's bank debt.
She asked about the content of the conversation between Taoiseach Enda Kenny and German chancellor Angela Merkel in the wake of Ireland's Yes vote on the fiscal treaty.
Mr Kenny refused to be drawn yesterday on the detail of the conversation and Ms McDonald suggested the tenor of the call was: "Guten Morgen, Angela" to the chancellor's reply of "Auf Wiedersehen Enda, pet."
Dismissing Sinn Féin's approach as "sneering" Mr Gilmore said there were ongoing discussions with the troika and at official levels "where Irish officials have been working with the European commission and the European Central Bank on ways in which the Irish bank debt can be alleviated".
The Government "is in discussions with European leaders to secure political support for a deal in respect of Irish bank debt", he said.
"We have a clear objective to minimise that burden. We are doing those negotiations we have been working on this for quite some time."
He told Ms McDonald that the "wise decision that the Irish people last Thursday made against your unwise advice to them will strengthen the hand of the Irish Government".
