Government ‘was not in loop’ for British loan talks

THE Government last night admitted it had not been in the loop when London discussed its proposed massive €8.4 billion loan to Ireland with other major world economies.

British Chancellor of the Exchequer George Osborne told the House of Commons “intensive private discussions” had been taking place in recent weeks with the G7, IMF and EU on plans for a bailout before the request from Ireland was officially made.

A Finance Department spokesperson said that as Ireland was not a member of the G7 — the world’s seven richest democracies, the US, Japan, Germany, Britain, France, Italy and Canada — it had not been aware of the talks.