Eamon Gilmore has said the current situation in Greece paints a clear picture of what could happen in Ireland if the country does not vote 'Yes' in the upcoming referendum on the EU Fiscal Treaty.

The Tánaiste earlier described the lack of Government in Greece as "very worrying".

Greek politicians will make a last-ditch bid to form an emergency government today after the main parties failed yesterday in a third attempt to form a coalition.

The Labour Leader has said some of the 'No' campaign are advocating Ireland take the same route as Greece.

Mr Gilmore said: "I think that that is giving the people of this country a clear picture of what the future will look like if we go the other route.

"Remember that the route that Greece has followed is the kind of route that some of the 'No' campaigners are recommending for this country. That is not a direction that we want to follow.

"What Ireland is doing is we are working our way to recovery."