The Finance Minister Michael Noonan has categorically ruled out a second EU/IMF bailout for Ireland.
Mr Noonan said he hopes Ireland will be back borrowing from the bond markets by the end of 2012, but it may be in a "small way".
He was responding to remarks by Minister Leo Varadkar who suggested Ireland may need a second bailout if the Government cannot return to the bond markets next year.
Minister Noonan said his Cabinet colleague should not be reprimanded and what he said was reasonable from the perspective of funding for infrastructural projects.
The Finance Minister said the Government still intends on returning to the markets in 2012, but things could change between now and then.