Varadkar claim on second bailout a 'hypothetical answer'

Varadkar claim on second bailout a 'hypothetical answer'

A spokesperson for Transport Minister Varadkar has said his comments on Ireland's fundraising prospects were a "hypothetical answer" to a "hypothetical question".

He said the remarks were made in the context of Public Private Partnerships, and investment in potential infrastructure projects.

Mr Varadkar warned yestrday that Ireland may need another bailout and is the first minister to make that admission.

Minister Varadkar said it was unlikely that Ireland would be able to raise money from the international bond markets next year as originally planned.

In an article published in yesterday's Sunday Times, Minister Varadkar said Ireland might be able to return to the markets "some time" in 2013.

That "would mean a second programme (would be required)," he said, "either an extension of the existing programme, or a second programme. I think that would generally be most people's view."

This morning, Officials at the Department of Finance insisted Ireland is still planning to return to the bond markets next year.

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