NTMA: No vote would mean no return to markets

A no vote in next week’s referendum would mean “in all likelihood” that Ireland would not be able to return to the bond markets next year, according the National Treasury Management Agency.

Finance Minister Michael Noonan said the agency, which manages the country’s borrowing, has given him its “considered advice” that a rejection of the fiscal compact treaty would likely trigger the need for a second bailout.

Mr Noonan told the Dáil the advice “concurs with” his own views.