Creighton: No second bailout for Ireland

European Affairs Minister Lucinda Creighton has said the Government will not seek a second bailout.

Lucinda Creighton said yesterday's bond auction means it is now "definitely possible" that Ireland could return to the bond markets.

Ireland successfully borrowed from the markets yesterday at an interest rate of around 6%.

Minister Creighton said it was a step in the right direction and that the Government has never entertained the idea of getting more money from the Troika.

"We've always said we would not be seeking a second bailout and that remains the position," she said.

"We have to continue working very hard over the next year or so to make sure that we get back to the markets, but I think that's definitely possible now."