Taoiseach admits talks under way after days of denials

THE Taoiseach last night admitted talks were under way with the EU over the debt crisis after days of denials from ministers Ireland was close to a bailout.

Brian Cowen insisted it was time for “cool heads”, as he signalled top-level EU meetings would need to hammer out a way to save the eurozone from the gathering crisis.

As senior EU figures expressed alarm about “contagion” from Ireland’s spiralling financial problems, the Taoiseach said action was needed to find a resolution.