Noonan rejects bailout claims

Finance Minister Michael Noonan has shot down claims that Ireland could look to the IMF for further bailout funds if voters reject the upcoming EU fiscal compact treaty.

That claim was reported yesterday with an IMF official quoted as saying there was nothing stopping Ireland applying for further funding support after the current programme ends in 2013.

Coalition parties warn that a no vote in the treaty will see Ireland blocked from accessing further bailout funds under the European Stability Mechanism (ESM), as is specified for member countries in the agreement.