Noonan to press Ireland's case in Brussels

Finance Minister Michael Noonan will meet with ECB President Jean Claude Trichet and EU Economics Commissioner Olli Rehn in Brussels later today.

In his first official talks with Europe's finance chiefs, Minister Noonan is expected to ask European authorities to ease the cost of the bank bailouts on the State.

It is understood the minister will press the case for an EU working group to be set up to examine how eurozone governments might take on a further burden from Ireland's bank bailout.

Concern is mounting that bank stress test later this month will show a requirement for additional capital.

If that's the case, it would make it impossible for Ireland to borrow again in the bond markets if the entire bill for the banks was met by the State.

The latest talks follow strong exchanges last week between Taoiseach Enda Kenny and the leaders of France and Germany on the issue of Ireland reducing its 12.5% corporation tax rate.