It should be vastly clearer by the end of today whether Greece is to remain a member of the Eurozone currency.

Two hastily arranged meetings of EU heavyweights have been arranged in Brussels to discuss Greece's fate.

Eurozone finance ministers are attending an extraordinary meeting to discuss the Greek government's new proposals to manage its debt.

Afterwards, an emergency meeting of the heads of state and government will convene to assess whether any progress on a sustainable, new program has been made.

A pessimistic, hard-line tone has been struck by some Eurozone ministers; strengthening speculation that a Greek exit is only a matter of time away.

Slovakian finance minister told reporters on his way in to the meeting that he couldn't guarantee a Greek exit won't happen.

"I would like to be honest with you so I cannot exclude it", he said when asked if a Greek exit was "on the table".

Meanwhile, Irish Finance Minister Michael Noonan denies that Ireland is taking a particularly hard-line position against the Greeks, for domestic political reasons.

Ireland received a bailout from the EU and IMF in late 2010 - just months after Greece received its first bailout.

"I never had a hard position on Greece. I have great friendships with previous Greek finance ministers", he told reporters today.

Ireland did not get a debt write down on the €85bn programme it received, and it is likely that the Irish electorate would see it as a failure of its government if Greek taxpayers were let off the hook for some of the debt, and Irish taxpayers were not.

Given that a general election is due to take place in Ireland within the next eight months, the government is also eager to keep the public on side.

Refusing to speculate on a possible Greek exit from the Euro, Mr Noonan advised the Greek government to "follow the approach in Ireland" where the government negotiated ways of restructuring its debt to make repayments less painful.

"Debt re-profiling has always been part of the discussion - you will recall, we [the Irish government] got extended maturities on loans, reduced interest rates and permission to refinance the IMF loans on the markets."

"I've always said that Ireland wants Greece to stay in the eurogroup and that we're prepared to negotiate and we see restructuring of the debt as part of the negotiation".

Head of the Eurogroup and Dutch Finance Minister Jeroen Dijsselbloem said today's meeting is "going to be very difficult", after the 'no' vote at the weekend.

He said that the Eurogroup of finance ministers has been "very united in its stance" - and reiterated the commitment to do "whatever it takes to strengthen the Eurozone".

"We cannot have an outcome of this process which damages our credibility", he added.