Second bailout could come next year, claims economist

It is “very possible” the Government will begin negotiations next year on a second bailout, according to UCD economist Karl Whelan.

He told the Oireachtas Finance Committee that if Ireland cannot access private financial markets over the next 18 months, money will run out in January 2014.

“Any deal involving a second bailout would have to be negotiated quite some time before then so we are probably looking at some time next year to open negotiations,” he said.