BRIAN LENIHAN last night admitted Ireland would need an EU-IMF bailout after the Government spent the best part of a week firmly downplaying the possibility.

PRESSURE mounted on the Government yesterday to accept emergency funding from Europe and the IMF as Central Bank governor Patrick Honohan said he expected Ireland would be offered a substantial bailout.

FORMAL talks get under way today on a bailout for Ireland with between 10 and 12 officials from the IMF beginning a trawl of the country’s finances.

The International Monetary Fund (IMF) tonight tried to ease worries its mission in Ireland would hit the poorest the hardest.

AS Irish bond rates stayed close to record highs yesterday, the European Commission’s internal market commissioner said he was confident Ireland would overcome its current economic difficulties.

IRELAND has not applied for any funding from the International Monetary Fund and the Government is taking “appropriate” fiscal measures, an IMF spokeswoman said.

AID groups will work from an existing plan for Haiti’s development to help the country recover, US Secretary of State Hillary Clinton said yesterday.

A top official at the International Monetary Fund (IMF) has said that the organisation is not likely to take over the running of Ireland's finances.