Varadkar: Nobody can rule out second bailout for Ireland

Minister for Transport Leo Varadkar said today that nobody can rule out the possibility of a second bailout for Ireland.

Minister Varadkar warned that a No vote in the forthcoming EU Treaty referendum would cut Ireland off from that financial help.

A new poll shows that 39% of people remain undecided about how they will vote next month.

Minister Varadkar said that the European Stability Mechanism (ESM) would be vital in the event of a second bailout.

"We live in a very precarious world at the moment," he said.

"We still have a very big dephicit and there are a lot of things that could go wrong.

"So certainly nobody can rule out the possibility that we may need a second bailout and I think that it would be a very risky thing to do to cut off access to the ESM, and that's potentially what would happen if there was a 'No' vote."