Rumour of second bailout ‘not helpful’, says EC

TALK about a second programme or bailout for Ireland is not helpful, the European Commission has said following media speculation about the issue.

Citigroup chief economist Willem Buiter’s comments in Dublin earlier in the week warned that cheaper loans or private sector involvement were needed, together with a refinancing of €30bn of promissory notes for Anglo Irish Bank.

European Commission spokesperson Amadeu Altafaj Tardio said talk of a second bailout was not helpful and that it was essential to continue the good work done up to now.