Junior Finance Minister Brian Hayes says Europe could be getting to the end of the financial crisis.
It follows yesterday's 100 billion euro Spanish bailout making it the fourth EU country to seek financial aid.
There's now growing calls for Ireland to renegotiate it's deal with the Troika.
But Minister Hayes says the Government want an EU wide solution that applies to every country.
Meanwhile Sinn Féin Finance spokesperson Pearse Doherty said that the loans were to be provided “at a lower cost, with no additional austerity or loss of sovereignty”.
The Donegal deputy challenged the government to explain “why it was not able to secure these kinds of terms when the Spanish government could”.