Finance Minister Paschal Donohoe has said any Eurozone budget should be "anchored" in the European budget.
He was speaking ahead of a meeting of EU finance ministers in Luxembourg.
The Eurogroup is holding talks to consider a set of reforms for the area of the single currency.
French President Emmanuel Macron is hopeful others will implement the changes to make the Eurozone more resilient to shocks.
But there are concerns that resistance to the changes has deepened, amid a budget row Italy.
Day beginning with meeting of Board of Governors of European Stability Mechanism. Vital organisation for supporting & securing the European economy. pic.twitter.com/vODK6MHIj2
— Paschal Donohoe (@Paschald) June 13, 2019
France and Germany proposed establishing a Eurozone budget last November.
This was seen as a way to promote competitiveness, convergence and stabilisation in the Euro area.
"The scope of application of the instrument would be limited to Eurozone member states", a proposal said last November.
"Such a restriction is considered legally possible if there is an objective reason justifying the need for a specific instrument for the Eurozone.
"A justifying reason is the need for a higher level of convergence and competitiveness within the Eurozone to ensure stability of the euro area as a whole."
A number of countries - including Ireland, the Netherlands, Finland, Latvia and Lithuania - have said the budget should be below €22bn proposed last year.
Speaking in Luxembourg on Thursday, Minister Donohoe would not be drawn on the size of the budget.
"The discussion that we're having at the moment is in relation to how it's going to be funded and how it's going to be governed.
"Ireland believes as a net contributor - and the scale of our net contribution will grow over time - that we believe it's important that an instrument like this be funded from inside the existing European treaties and anchored inside the European budget.
"I know a number of other countries share our view in relation to this, and I hope this is one of the areas in which we'll be able to reach compromise tonight".
Another of the main decisions relates to improving the European Stability Mechanism - the EU's rescue fund.
