Commission head speaks out against retrospective Irish funding

The head of the European Commission, Jose Manuel Barroso, has dashed any hopes of retrospective funding for Ireland's banks.

Speaking in Brussels last night, Barroso strongly criticised Ireland, claiming the Euro was the victim of Ireland and not the other way around.

He blamed Irish banks, regulators and the Government for Ireland's difficulties.

"The objective of the programme was that Ireland could finance itself in the markets. That objective was reached- congratulations to Ireland.

But I think it's also fair for Irish colleagues to recognise that the European Union was always at the side of Ireland."

It comes after EU Finance Ministers agreed a new banking union deal earlier this week which raised hopes of backdated funding.